Elon Musk steps down from joining Twitter’s board

The richest man in the world announced his arrival on the board of directors of the social network on April 5, two weeks after taking over 9.2% of the company.

Elon Muskthe head of Tesla Y spacexresigned from his position on the Board of Directors of Twitter, announced Monday Parag Agrawal, the general manager of the social network, after a week of adventures between the capricious billionaire and the platform. “Elon Musk has decided not to join our board of directors“Parag Agrawal tweeted.

«Elon’s arrival on the board was to be officially effective on April 9, but Elon made it known that same morning that he would no longer be on the board.he explained in a message to Twitter staff, which he shared on the platform. “I think it’s the best“, he added.

«We have enjoyed and will always appreciate the participation of our shareholders, whether they are on our board of directors or not. Elon is our largest shareholder and we will continue to be open to his involvement.Parag Agrawal continued. Immediately after the announcement, Elon Musk tweeted a laughing emoji, with no accompanying text. The world’s richest man announced in early April that he had taken a 9.2% stake in Twitter, making him the largest shareholder.

An announcement applauded by the markets

He first specified in the document sent to the stock market regulator that this participation was “passive”, that is to say that he did not intend to influence the great strategic decisions. He had also promised not to increase his stake beyond 14.9%. But the announcement, since then, of his entry into the board of directors of Twitter had been applauded by the markets. Investors saw it as a sign that the billionaire was finally planning to get involved in the group’s strategy.

Elon Musk is a very active user of the social network, in which he has 80.5 million subscribers. He talks there almost every day about his companies, from Tesla (electric cars) to SpaceX (space flight), passing through Neuralink (brain implants), and he does not hesitate to make jokes or provoke controversy. He also uses his account a lot to survey netizens, about his sales of Tesla shares or, more recently, to find out if they believe that Twitter respects freedom of expression, a question to which a majority answered ”not“. The businessman has repeatedly criticized the platform on this issue, believing that it went too far in content moderation.

The billionaire multiplies the provocations on Twitter

Since the announcement of his entry into the capital, Elon Musk has multiplied the provocations. In particular, he conducted a poll to ask if Twitter users wanted a “modifierto correct a tweet after posting it. Almost 4.4 million people had voted and around 73% had responded”YesThen the platform announced that it was testing this feature, which had been requested by many users for years.

On Saturday, Elon Musk wondered if the social network was “dying“, mentioning accounts that are very followed but not very active. “Most of these ‘super’ accounts rarely tweet and post little content. Is Twitter dying?he wrote, captioning a list of the 10 profiles with the most subscribers. In particular, she had noted that singer Justin Bieber, in second place, had tweeted only once this year.

On Sunday, he made two other suggestions:Remove the w in twitter?(with, as an answer option, “Yes” Where “Sure“) Y “Turn Twitter headquarters in San Francisco into a homeless shelter since no one goes there anyway“. More than 90% of the 1.9 million voters said “yes”. He then proposed changes to the paid subscription plan of the social network Twitter Blue.

«There will be distractions in the future, but our goals and priorities remain unchanged. The decisions we make and how we execute them are in our hands, and no one else’s.Parag Agrawal said in his message to employees. According Washington PostSeveral Twitter employees had expressed concern, considering in particular that the values ​​of the richest man in the world were not aligned with the corporate culture of the social network.

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