As confirmed by Parag Agrawal, the CEO of Twitter Inc, who announced on Sunday night that Elon Musk, Tesla’s CEO, has decided not to join the social media company’s board. The market has different reactions to Elon Musk’s decision.
Last week on Tuesday, Musk spent $2.8 billion buying a 9.2% stake in social media company Twitter when he purchased 73,486,938 of common stock in the social media company. This purchase made him Twitter’s largest individual shareholder. Shortly afterwards, Twitter announced that the Tesla executive would be taking a seat on the company’s board.