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Elon Musk turned down the offer to join Twitter’s board of directors, and in a sudden setback, he came up with a number of ideas and plans, ranging from canceling ads to giving the letter (W) a name. Popular social networking site.
Twitter CEO Baraj Agarwal said in a note posted on the site on Sunday that the board had discussed a lot with Musk, but did not reveal why the Tesla chairman turned down the offer.
Musk is expected to join Twitter’s board of directors on April 9, after he disclosed his ownership of 9.1 percent of the company, but his position will remain at 14.9 percent.
Sources told Reuters that Musk had asked Twitter for a place on the board of directors before receiving a call from the company. Musk, currently the company’s largest shareholder, has turned down the offer and is free to increase his stake beyond that limit.
Describing himself as an ardent supporter of freedom of speech, Musk has been critical of Twitter, revealing his stake in the company on April 4 and saying he wants to make fundamental improvements to the social media platform.
The news sparked widespread speculation about his intentions, from his full acquisition of the company to his active participation in its decisions.
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