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Thndr Claps » U.S. Claps » Mergers & Acquisitions 🤝 » Elon Musk passes on BoD offer🐤

Elon Musk passes on BoD offer🐤

by Shams Abbas
April 11, 2022

Elon Musk passed on an offer to become a Twitter board member.

Backstory
Elon Musk recently acquired a 9.2% stake in Twitter, making him the company’s largest shareholder.

Why this matters
Had Musk joined the board of directors, he would’ve been legally restricted to owning a maximum of 14.9% of Twitter. Now that Musk declined the offer, he won’t be subject to the 14.9% limit. 

Twitter CEO Parag Agarwal said the board “will remain open to his input.”

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