Elon Musk doesn't need a board seat to change Twitter
CNN
Elon Musk may have declined an invitation to join Twitter's board, but that doesn't necessarily mean he's abandoning his plans to shake up the company. If anything, it could free him to be even more disruptive.
On Sunday, nearly a week after Musk disclosed he'd become Twitter's largest shareholder and the company offered him a board seat, Twitter (TWTR) CEO Parag Agrawal said the Tesla and SpaceX CEO had decided not to take the position. The decision immediately raised questions about what the notoriously unpredictable billionaire would do next.
Accepting a board seat would have required Musk to act in the best financial interests of the company and would likely have required him to bring up suggestions privately rather than on Twitter, the latter of which seemed like a big ask for one of the platform's most prolific (and controversial) users. A part of his agreement with Twitter to join the board, Musk's investment in the company — which currently stands at 9.1% of its shares — would also have been capped at 14.9%, potentially putting some limits on his ability to influence the company.
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