Elon Musk recently reported that he bought a lot of Twitter shares, and that he plans to become the company’s CEO. However, he has changed his mind. Tesla’s CHIEF Executive Officer, Parag Agrawal, said that “this will be the best way”.
Twitter’s board of directors will not include Musk
Elon Musk purchased more than 70,000,000 shares of Twitter, or 9.2% of the company’s passive shares, making him the company’s largest shareholder.
The TWTR share price rose by 25% after the announcement. The dogecoin, Musk’s favorite cryptocurrency, also soared.
As a result of the acquisition, Tesla’s CEO was appointed to Twitter’s board of directors. The billionaire wasted no time in presenting his ideas for a better future for the company, like introducing payments in the oldest meme coin, DOGE.
Nonetheless, Twitter CEO Parrag Agrawal recently revealed that Musk has changed his mind about joining the company. Agrawal did not give a specific reason for the change, but said that “it will be best.” Agrawal also added that Tesla’s CEO is the company’s largest shareholder, and therefore Twitter is open to his comments.
Will Twitter make it possible to edit posts?
Recently, Twitter announced that it was going to add a feature that lets users edit their tweets. This became quite a controversy. Many users feared that this feature would be exploited by criminals to steal money.