Elon Musk will not join Twitter board of directors, voiding pledge not to take over the company



Tesla and SpaceX CEO Elon Musk will not join Twitter's board of directors, Twitter CEO Parag Agrawal announced late Sunday night.

Musk recently purchased a 9.2% stake in the company for nearly $3 billion.

What are the details?

In a statement shared to Twitter, Agrawal wrote, "Elon has decided not to join our board. I sent a brief note to the company, sharing with you all here."

"The Board and I had many discussions about Elon joining the board, and with Elon directly," Agrawal wrote. "We were excited to collaborate and clear about the risks. We also believed that having Elon as a fiduciary of the company where he, like all board members, has to act in the best interests of the company and all our shareholders, was the best path forward. The board offered him a seat."

"We announced on Tuesday that Elon would be appointed to the Board contingent on a background check and formal acceptance," the statement continued. "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. I believe this is for the best."

He added, "We have and will 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."

You can read the statement it its entirety below.

Elon has decided not to join our board. I sent a brief note to the company, sharing with you all here.pic.twitter.com/lfrXACavvk
— Parag Agrawal (@Parag Agrawal) 1649646833

What else?

According to a Monday report from the New York Times, by declining to join Twitter's board, the billionaire "will also no longer be bound by a previous agreement he had signed with the company."

"Under a 'standstill' agreement last week, he had pledged not to purchase more than 14.9 percent of Twitter’s stock and not to take over the company," the outlet reported. "That suggests Mr. Musk could now keep adding to his stake in the company."

Musk has yet to issue a comment on the decision or what it could mean for any future plans with the company at the time of this reporting.

Substack VP roasts disgruntled Twitter employees with pro-Elon Musk 'we're hiring' offer



Substack's vice president of communications put on blast triggered Twitter employees upset over Elon Musk's massive stock buy Tuesday morning with a hilarious job openings post.

What did she say?

"Substack is hiring!" Lulu Cheng Meservey wrote on Twitter — quickly adding an important caveat.

"If you’re a Twitter employee who’s considering resigning because you’re worried about Elon Musk pushing for less regulated speech ... please do not come work here," said the executive of Substack, a growing online subscription newsletter platform.

"But for everybody else, we really are hiring! Join a talented, determined, passionate, motley team of all backgrounds and beliefs. We debate respectfully, execute maniacally, and live to serve writers and podcasters," the Meservey continued. "Long live independent publishing."

But for everybody else, we really are hiring! Join a talented, determined, passionate, motley team of all backgrounds and beliefs. We debate respectfully, execute maniacally, and live to serve writers and podcasters. \n\nLong live independent publishing.https://substack.com/jobs
— Lulu Cheng Meservey (@Lulu Cheng Meservey) 1649176359

The tweet immediately drew a wide range of responses. While many laughed at the post and praised Meservey's unabashed support for free, unregulated speech, others chided her, along with tech billionaire Elon Musk.

"If funny was weaponized...this tweet would be literal violence," wrote one user.

Another exclaimed, "Wish more companies were honest like this."

"The idea that Elon Musk is in favor of free speech is laughable," still another added to the discussion.

What's the background?

The day prior, Tesla CEO and known Twitter critic Elon Musk made international headlines when he purchased 73.5 million shares, or 9.2% of Twitter's stake, to become the social platform's largest individual shareholder.

Then on Tuesday, Twitter announced that Musk would be appointed to serve on the company's board of directors. The tech billionaire immediately celebrated the news by teasing "significant improvements" to the platform.

It's widely anticipated that Musk will soon use his newfound influence to push back against the platform's blatant censorship practices.

He\u2019s both a passionate believer and intense critic of the service which is exactly what we need on @Twitter, and in the boardroom, to make us stronger in the long-term. Welcome Elon!
— Parag Agrawal (@Parag Agrawal) 1649161971

In the weeks prior, Musk had ramped up his criticism against Twitter, polling users to see if they believed the platform was adhering to the principles of free speech and openly musing about starting a rival social media company. Many Twitter users implored the eccentric billionaire to simply buy Twitter and make it better.

Anything else?

Meservey's "We're hiring!" tweet was more than an opportunistic callout, though. It was likely also a genuine reaction, since there truly were Twitter employees who publicly lamented following the news of Musk's stock purchase.

According to the Post Millennial, scores of Twitter employees — including data scientists, software engineers, and a recruiting manager — took to the platform to express their shock and dismay.

Was the Babylon Bee's Twitter suspension the 'last straw' for Elon Musk?



Elon Musk, the world's richest man, decided to become Twitter's largest individual shareholder and join the company's board after the Babylon Bee, a Christian satirical fake news website, was banned from the social media platform.

CEO Seth Dillon said Tuesday that Musk contacted the Babylon Bee shortly after Twitter had "locked out" the faith-based jokesters because of a tweet naming Rachel Levine, the Biden administration's transgender assistant secretary of health at the Department of Health and Human Services, "Man of the Year." According to Dillon, during their conversation, the Tesla CEO and billionaire raised the possibility of buying Twitter outright in response to the Bee's account being suspended.

"Musk reached out to us before he polled his followers about Twitter's commitment to free speech. He wanted to confirm that we had, in fact, been suspended. He even mused on that call that he might need to buy Twitter," Dillon tweeted Tuesday. "Now he's the largest shareholder and has a seat on the board."

Musk reached out to us before he polled his followers about Twitter's commitment to free speech. He wanted to confirm that we had, in fact, been suspended. He even mused on that call that he might need to buy Twitter. Now he's the largest shareholder and has a seat on the board.
— Seth Dillon (@Seth Dillon) 1649162992

Musk is a fan of the Babylon Bee's satire. In December, he joined Dillon, website editor in chief Kyle Mann, and former creative director Ethan Nicolle for a 90-minute in-depth interview on "wokeness, Elizabeth Warren, taxing the rich, the Metaverse, which superhero Elon would be, and how the left is killing comedy."

On March 24, Musk fueled rampant speculation that he would either attempt to take over Twitter or launch a competing social media platform when he polled his followers about whether they believe Twitter "rigorously adheres" to the principle that "Free speech is essential to a functioning democracy."

"The consequences of this poll will be important. Please vote carefully," he cryptically tweeted.

The consequences of this poll will be important. Please vote carefully.
— Elon Musk (@Elon Musk) 1648196805

Days later, a regulatory filing indicated Musk had purchased a 9% stake in Twitter Inc. to become the company's largest individual shareholder. Then on Tuesday, Twitter CEO Parag Agrawal announced that Musk will be appointed to the company's board.

He\u2019s both a passionate believer and intense critic of the service which is exactly what we need on @Twitter, and in the boardroom, to make us stronger in the long-term. Welcome Elon!
— Parag Agrawal (@Parag Agrawal) 1649161971

"He's both a passionate believer and intense critic of the service which is exactly what we need on Twitter, and in the boardroom, to make us stronger in the long-term. Welcome Elon!" said Agrawal.

In response, Musk said he is, "Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!"

Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!
— Elon Musk (@Elon Musk) 1649162374

In an interview with the Washington Times Monday, Dillon said he does not believe that the Babylon Bee's suspension was the "sole reason" that Musk got involved with Twitter.

"Censorship is pervasive on the platform, and he‘s been concerned about it for some time. But I do think the absurdity of his favorite satire site getting suspended factored into his decision. Perhaps it was the last straw,” said Dillon.

The Bablyon Bee was suspended under Twitter rules prohibiting "hateful conduct" for "misgendering" Levine, a male who presents as female. Conservatives and others who hold traditional or religious beliefs about sex and gender and who post about those beliefs on social media are likely to violate community guidelines that prohibit so-called hate speech.

Fox News host Tucker Carlson and Turning Point USA CEO Charlie Kirk were among those whose accounts were frozen last month for referring to Levine as a man, in violation of Twitter policy.

To have its account reinstated, the Babylon Bee must delete the offending tweet, but the company has refused to do so. "Truth is not hate speech," Dillon proclaimed on Mar. 20, after the account was locked. "If the cost of telling the truth is the loss of our Twitter account, then so be it."

Elon Musk appointed to Twitter board, immediately teases edit button, other 'significant improvements'



After abruptly purchasing a 9.2% stake in Twitter Inc. to become the company's largest individual shareholder this week, tech billionaire and noted Twitter critic Elon Musk is now set to join the company's board of directors.

What are the details?

In a Securities and Exchange Commission filing on Monday, the company announced its intention to appoint the Tesla founder and CEO to serve as a Class II director with a term currently set to expire in 2024 at the company's annual stockholders' meeting.

As a part of the agreement, Musk is prohibited from becoming the owner of more than 14.9% of the company’s common stock.

Twitter CEO Parag Agrawal also announced Musk's addition to the board in a pair of tweets Tuesday, saying, "Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board."

He\u2019s both a passionate believer and intense critic of the service which is exactly what we need on @Twitter, and in the boardroom, to make us stronger in the long-term. Welcome Elon!
— Parag Agrawal (@Parag Agrawal) 1649161971

Agrawal seemed to welcome Musk's appointment, noting he is "both a passionate believer and intense critic of the service," adding, "which is exactly what we need on @Twitter, and in the boardroom, to make us stronger in the long-term."

What else?

In recent weeks, Musk has become more outspoken in his criticism of the social media platform, known for its blatant censorship of voices that stray from the progressive left-wing dogma.

Last month, he posted a poll on the platform asking users whether they believed it was adhering to the principles of free speech, and users responded with a resounding "no." Later, he suggested that he was putting serious thought into starting a new social media company that would rival Twitter.

Musk's "new platform" suggestion elicited a raft of responses from users, many of whom implored the billionaire to buy Twitter and make it better.

In a tweet response to news of his appointment to the board, Musk teased that "significant improvements" would soon be made to the platform.

Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!
— Elon Musk (@Elon Musk) 1649162374

Hours earlier, just after his nearly $3 billion stock purchase was made public, Musk mused about the addition of an edit button on the platform in another poll.

Agrawal retweeted the post, noting the "consequences of this poll will be important" and asking users to "please vote carefully."

Anything else?

Twitter's stock price soared following news of Musk's 73.5 million-share purchase on Monday, and the sticker price kept ascending on Tuesday after his board appointment was announced.

Prior to his board appointment, analysts hadn't ruled out the notion that Musk could use his staggering wealth to complete a total buyout of the company.

It's possible, and perhaps likely, that Twitter executives warded off such a scenario by agreeing to add Musk to the company's board of directors with a share percentage limit.

(H/T: CNBC)

UNEARTHED AUDIO! New Twitter CEO Parag Agrawal is ANTI-FREE SPEECH | Louder with Crowder

UNEARTHED AUDIO! New Twitter CEO Parag Agrawal is ANTI-FREE SPEECH | Louder with Crowder