Elon Musk then suggested that the company’s headquarters become a homeless shelter since employees no longer had to go there to work and could work remotely permanently.
While he will not have a seat on the board, he will be the organization’s largest shareholder and have substantial influence in that regard.
Elon Musk tweeted and erased a cheerful emoji while hiding his face.
Was it possible that this was all a huge troll by Musk? Or was it possible that it was a method to boost Twitter’s stock?
Is there anything else on Elon Musk’s mind in terms of Twitter, or as some have it, is he working on something even more exciting?
Twitter’s offer to have him on the board was effectively a method to keep him in a bargain. Being on the board would have limited him in a few key areas. If he were on the board, he could not own more than 14.9 percent of the shares. Furthermore, being on the board would have required him to act in the company’s best interests, which may have prevented him from doing more dramatic things with Twitter that he wanted to do. If you read Agrawal’s statement, you’ll see how they were attempting to keep Musk within a fiduciary obligation. He would have been limited in what he could say and do — which is not Musk.
By rejecting the offer to sit on the board, he has the freedom to acquire more of Twitter and essentially mount a hostile takeover if he so desires.
Employees of Twitter who had previously melted down in protest against his involvement are even more furious, fearing that this is what’s next.
So we’ll just have to wait and see what’s next. However, given his dedication and the money he’s already invested in order to exert influence at the firm, it’s reasonable to believe that he’s attempting to break free from any limitations in order to do anything he wants. So whip up some popcorn since it might be a hostile takeover; we’ll just have to wait and see.