Elon Musk unleashed a storm for freedom of speech on Twitter. Now he is resigning from the board chair

Thus, he became the largest shareholder in the company. This information was only released in April. Shortly after that, the company’s valuation increased by 28%. The mood has cooled down a bit, but the stocks are still much more expensive than before Musk’s investment. They jumped from $ 39 to $ 50 to stabilize in recent days. Twitter shares were traded at $ 46.23 on Monday morning.

Elon Musk will not join Twitter’s board

Initially, the billionaire was to enter the board, whose term ends in 2024. On Saturday morning, Parag Agrawal’s CEO said it had decided not to take on the role.

Elon was to be announced as a board member on April 9. On the morning of that day, Elon announced that he would not be joining the board after all. I believe this is the best solution. We value and will always value the contribution that shareholders make to the company, regardless of whether they sit on the board or not

– wrote on Twitter Agrawal.

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This decision may have influenced Twitter’s decline by $ 2 in Monday’s opening. However, the situation normalized quickly.

Elon Musk will not defend freedom of speech

After the purchase of Twitter shares, but before the announcement of the transaction, Elon Musk organized a survey on the portal. He asked the question “Does Twitter live up to the principle of freedom of expression?”, Stressing that the voting results would have important ramifications. Most of the voters chose “no” and Musk, provocative again, asked “do you need a new platform?”

His resignation from his seat on the board means that he will no longer be able to influence Twitter policy so directly. Two days after the Twitter Freedom of Speech poll, Musk was asked if he was going to start a new social networking site. The billionaire replied that he was “seriously thinking about it.”