Elon Musk Will Not Join Twitter's Board of Directors

Elon Musk will not be joining Twitter's board of directors after all. Twitter CEO Parag Agrawal said that Musk turned down the offer to join the board. Agrawal explained that the decision to offer him a position on the board was in the company's best interests because Musk would have been a "fiduciary of the company" and legally required to "act in the best interest of the company."

Musk made the decision to decline the offer on Saturday, just before his appointment was set to be made official.

"Elon's appointment to the board was to become officially effective 4/9, but Elon shared that same morning that he will no longer be joining the board," Agrawal said in the tweet. "I believe this is for the best. We have and will always value input from our shareholders whether they are on our Board or not. Elon is our biggest shareholder and we will remain open to his input."

Last week, Musk, who is the wealthiest person in the world, made waves when he announced that he purchased around nine percent of Twitter's stock, making him the largest shareholder. Musk, who has been a frequent critic of Twitter's moderation policies, had spent the week tweeting about changes he would make within the company, even suggesting he would turn the company's headquarters into a homeless shelter.

Musk did not say why he declined the offer.