Tesla CEO Elon Musk won’t be joining Twitter’s board of directors as previously announced.
suggesting changes to Twitter, including making the site ad-free. Nearly 90% of Twitter's 2021 revenue came from ads.
Twitter gave Musk a seat on the board on the condition that he not own more than 14.9% of the company’s outstanding stock, according to a regulatory filing. Spatt said that Musk, as the largest shareholder, could potentially “swing back hard” at Twitter executives and board members and force the company to move in a new direction.
Shares of Twitter Inc., which jumped nearly 30% after Musk’s stake became public last week, fell almost 2% at the opening bell Monday. Musk's latest trouble with the SEC could be his delay in notifying regulators of his growing stake in Twitter.over the weekend referencing potential changes at Twitter.
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Tesla CEO Elon Musk won’t join Twitter’s board after allTwitter’s largest investor, billionaire Elon Musk, is reversing course and will no longer join the company’s board of directors less than a week after being awarded a seat.
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