In a very carefully worded statement, Twitter chief Parag Agrawal said tonight that Elon Musk would not be taking the board seat he was going to take three days ago.
Musk became the largest shareholder in Twitter this week and asked for the seat. He spent $2.9 billion to get the seat. Agrawal announced it on April 5th. He Tweeted: “I’m excited to share that we’re appointing @elonmusk to our board! Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board.”
But now Agrawal says Musk getting the seat was “contingent upon passing a background check.” I’ve never seen phrasing like that in such an announcement. Did Musk not pass muster? What happened here? Just four hours ago Musk was engaged in a public discussion on Twitter about adding an edit button, and so on. Just three hours ago, he Tweeted: “Everyone who signs up for Twitter Blue (ie pays $3/month) should get an authentication checkmark”
And now? What happened in those three hours?
Elon has decided not to join our board. I sent a brief note to the company, sharing with you all here. pic.twitter.com/lfrXACavvk
— Parag Agrawal (@paraga) April 11, 2022