Elon Musk resigns from Twitter board

Elon Musk, head of Tesla and SpaceX, has resigned from his position on Twitter’s board of directors, Parag Agrawal, general manager of the social network, announced on Monday, after a week of adventures between the bizarre billionaire and the platform.

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“Elon Musk has decided not to join our board,” Agrawal wrote on Twitter.

“Elon’s arrival on board would officially take effect on April 9, but Elon announced that morning that he was no longer joining the board,” he explained in a Twitter message to staff he shared on the platform. . .

“I believe it is for the best,” he added.

“We have enjoyed and will always appreciate the participation of our shareholders, regardless of whether they serve on our board or not. “Elon is our largest shareholder and we will remain open for his participation”, continued Mr. Agrawal.

Shortly after this announcement, Elon Musk posted a laughing emoji, with no accompanying text.

The richest man in the world announced in early April that he had taken a 9.2% stake in Twitter’s capital, making him the largest shareholder.

Passive participation

He had initially specified in the document sent to the stock exchange regulator that this participation was “passive”, ie he did not intend to influence major strategic decisions. He had also undertaken not to increase his shares beyond 14.9%.

But the announcement, afterwards, of his entry on Twitter’s board of directors was applauded by the markets. Investors saw it as a sign that the billionaire was finally planning to get involved in the group strategy.

Elon Musk is a very active user of the social network, which has 80.5 million subscribers.

He talks there almost every day about his companies, from Tesla (electric cars) to SpaceX (space flight), through Neuralink (brain implants) and does not hesitate to make jokes or provoke controversy.

He also uses his account extensively to survey Internet users, to sell Tesla shares or, more recently, to find out if they believe Twitter respects freedom of expression, a question to which most answered “No”.

The entrepreneur has consistently criticized the platform for this topic, believing it has gone too far in content moderation.

“Distractions”

Since the announcement of his entry into the capital, Elon Musk has multiplied provocations. In particular, he conducted a poll to ask if Twitter users wanted an “edit” button to correct a post-tweet. Nearly 4.4 million people had voted and about 73% had answered “yes”.

The platform then announced that it was testing this feature, which many users had been looking for for years.

On Saturday, Elon Musk wondered if the social network was “dying,” citing accounts that were highly tracked but not very active.

“Most of these ‘super’ accounts rarely tweet and post little content. Is Twitter dying? he wrote, subtitled a list of 10 profiles with more subscribers. He had noted that singer Justin Bieber, in second place, had only posted once on Twitter this year.

On Sunday, he made two more suggestions: “Remove w on Twitter?” (with, as a choice of answers, “yes” or “of course”) and “Turning Twitter’s headquarters in San Francisco into a home for the homeless as no one goes there anyway.” More than 90% of the 1.9 million voters said “yes”.

He then proposed changes to the paid subscription plan for the social network Twitter Blue.

“There will be distractions in the future, but our goals and priorities remain unchanged. “The decisions we make and how we execute them are in our hands and no one else’s,” said Parag Agrawal in his message to employees.

According to the Washington Post, some Twitter employees had expressed their concern, believing in particular that the values ​​of the richest man in the world did not match the corporate culture of the social network.

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