Elon Musk, chief executive of Tesla Inc. and currently the largest shareholder of Twitter Inc., has dropped his plans to join the company’s board of directors after being offered a seat, according to CEO Parag Agrawal.
This news follows a dramatic week after Musk raised a 9.2% stake in Twitter and said he intended to put serious thought into improving the company. Musk is well known for his bombastic personality and communication style, especially on Twitter.
“Elon’s appointment to the board was to become officially effective 4/9, but Elon shared that same morning that he will no longer be joining the board,” Agarawal wrote late Sunday evening. “We have and always value input from our shareholders whether they are on our Board or not. Elon is our biggest shareholder and we will remain open to his input.”
Agrawal did not say if Musk gave any specific reasons why he changed his mind about joining the board.
Musk’s decision appeared to trigger a flurry of now-deleted tweets that included suggestions and polls for “improvements” to the platform over the weekend.
One such improvement included a crude Twitter poll for his followers that asked people to vote on if Twitter should drop the “w” from its name. As a result, Twitter would become “titter.”
Musk also suggested that subscribers to Twitter Blue should be able to pay for the service with Dogecoin, a meme-based cryptocurrency. In the past, Musk’s mention of cryptocurrencies, including Dogecoin, has caused massive market shifts for the currency. He also added that subscribers should automatically get “authentication” checkmarks and the product be completely free of advertisements.
“No ads,” Musk wrote. “The power of corporations to dictate policy is greatly enhanced if Twitter depends on advertising money to survive.”
In another deleted tweet Musk suggested that Twitter should convert its San Francisco headquarters into a homeless shelter, because, as he put it “no one shows up anyway.”
Amazon CEO Jeff Bezos joined the conversation saying that Twitter could perhaps “do a portion” because it “worked out great and makes it easy for employees to volunteer” referring to an initiative at Amazon.