Elon Musk turns down seat on Twitter's board, after investing enough for an invite

Billionaire Elon Musk has decided not to join the board of one of social media’s titans, Twitter, the San Francisco-based company’s CEO, Parag Agrawal, said Sunday night.

The announcement came as a surprise after Musk, the CEO of Tesla, said he would be joining the board following his stock purchase of about 9.2 percent of the company.

“Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!” Musk tweeted April 4.

On Sunday Agrawal tweeted, “Elon has decided not to join our board.”

He included a note he sent to the company that noted that Musk would be subject to a background check and, once appointed, would have to be loyal to the financial interests of the company.

Musk, a power user with more than 81 million followers, has been one of Twitter’s loudest critics. After news of his investment broke last week, he teased his Twitter audience with proposed changes to the company.

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