After much speculation about the role of Elon Musk at Twitter having bought an individual 9.2% stake in the company making him the largest shareholder at the tech company, he has decided not to join the board. In a classic move by the Tesla and SpaceX billionaire head, Musk reacted to the statement made by Twitter CEO Musk with a single emoji, a smiling face with a hand over its mouth.
Twitter’s CEO, Parag Agrawal went on to sound a battle cry for Twitter saying that Elon’s decision was for the best, and emphasised that the company’s goals remain solid and forward-looking.
As one of the biggest personalities on Twitter, Musk managed to keep the Twittersphere enthralled by his purported changes at Twitter, including the introduction of the elusive Edit button. The all-around debate surrounding Musk’s actions on Twitter elicited an old memory reminiscent of Musk’s run-ins and “covfefe” with the SEC. Several pundits have noted that his decision may be educated by the possibility of acquiring more of Twitter and his desire to exit a 2018 deal between him and the SEC concerning his flagrant area tweets.
Apparently, Musk’s owning up to 14.9% of the tech company is contingent upon him becoming part of the board, which begs the question, how much is Elon Musk going to acquire now?
It’s evident that the billionaire will continue to face scrutiny on all isles, stoking ire and celebration from all corners. It’s clearly a strategic move, seeking to ascend the throne in a more nuanced way rather than shouting from the city walls.
Furthermore, it’s clear that Twitter is not out of the woods yet, and the cloud of uncertainty over its head hasn’t really gone away, but Elon Musk’s buy-in is a streak of light for the company.