Last week, Twitter’s largest shareholder, the world’s richest businessman, Elon Musk, decided not to join the company’s board of directors.
Parag Agrawal, CEO of Twitter, announced Elon Musk’s decision to the public.
Parag Agrawal, in his announcement on his Twitter account, did not explain why Musk would not be on the board of directors.
Agrawal noted that they are open to Musk’s contributions.
Elon Musk, CEO of Tesla and SpaceX, announced last week that he bought 9.2 percent of Twitter’s shares.
Elon Musk thus owned four times more shares in the company than Twitter founder Jack Dorsey.
After Musk’s decision, Twitter shares gained 25 percent.
Musk, who actively uses Twitter, has more than 80 million followers on the platform.
Last month, Musk said that he was seriously considering establishing a new social media platform because of Twitter’s approach to freedom of expression.