Bigger Moves Than the Board on the Way? Elon Musk May Be Have a Lot More in Store for Twitter – Opinion

Parag Angrawal made the announcement late Sunday night that Elon Moss would not be joining Twitter’s board.

Elon decided to not join our board. I have sent an email to Elon with a quick message, which I shared here. pic.twitter.com/lfrXACavvk

— Parag Agrawal (@paraga) April 11, 2022

This followed Elon Musk proposing a variety of changes to Twitter, including the humorous one of turning the headquarters into a homeless shelter since employees were no longer required to go there to work and could work remotely forever.

Although he won’t be on the board, he will still be the largest shareholder and exert influence.

Musk deleted and posted a smiley emoji with his hand on his face.

Elon Musk deleted this cryptic tweet after it was announced he won’t be joining Twitter’s board of directors… pic.twitter.com/kmag7cprMp

— Joseph A. Wulfsohn (@JosephWulfsohn) April 11, 2022

Or was it Musk’s biggest troll? Or a way to pump up Twitter’s stock?

Daily Mail

Twitter stock fell 8 percent during premarket trade Monday. It traded for less than $43 pershare, CNBC reported.

However, it has recovered slightly to $45.20 per shares by 7.30 ET, a decrease of 2.23 percent from Friday closing.

News of Musk’s involvement in the company has caused Twitter stock prices to skyrocket over the last week, reaching a high of $53.84 per share on April 5.

Musk may be a little more forthcoming in relation to Twitter, according to some.

Twitter’s offer to him to be on its board was in fact a way for him to manage the company in a contract. His participation on the board would have limited his rights in two ways. If he were on the board, it would have prohibited him from holding more than 14.9 per cent of shares. A board membership would have meant that he had to adhere to the best interests the company. This could have hindered him from trying to tweet more extreme things than he wanted. If you read Agrawal’s message, you can see how they were trying to keep him with a fiduciary duty. He would have been restricted in what he could have said and done — which is not Musk.

He can buy Twitter more and effect a hostile takeover by not accepting the deal.

Twitter employees, who previously cried about his involvement, are even more angry and afraid of what lies ahead.

So we’ll have to see what’s coming next. But given his interest and the money he’s already put in to have influence in the company, it would stand to reason that he’s trying to free himself from any restrictions so he can act as he wants. So grab the popcorn, it may be a hostile takeover, we’ll have to wait and see.