(DailyDig.com) – Early in April, Elon Musk, the founder of Tesla and SpaceX, became the largest shareholder of Twitter. As a result of the billionaire’s investments, Parag Agrawal, CEO of Twitter, announced Musk would be joining the social media platform’s board. While the entrepreneur was originally open to the idea, he has since declined to take the seat.
— The US Sun (@TheSunUS) April 11, 2022
Some experts claim Musk made the decision for fear of the company attempting to silence him. Others show concern over what they call a battle reminiscent of the popular show “Game of Thrones.” Agrawal said members originally believed it was better to have Musk as part of the board, serving in the company’s best interest. Then, at the end of his statement, he noted that Musk would ultimately serve the company best as a shareholder, adding that Twitter would continue to value his input.
According to the Sun, experts believed Twitter was attempting to make Musk a part of the board to put him in the back seat and silence him. The way it is now, Musk can continue to criticize the company, while still having the ability to buy and sell Twitter’s stock as he pleases. The Sun also mentioned that some experts believe Musk will continue to build on his share of Twitter, adding that he may take a more hostile approach in the future.
Paolo Pescatore, a PP Foresight analyst, asserted many Twitter shareholders welcomed the boost Musk’s investment gave to the company’s stock price, although the SpaceX founder’s intentions have remained unclear. Pescatore mentioned how Musk’s refusal to join the board and take a back seat has raised concern, warning that Musk may make moves to increase his stake and control of the company.
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