- Elon Musk, the world's richest man, has decided not to join Twitter's board of directors, less than a week after spending over GH₵18,000,000,000 to become the company's largest shareholder
- Musk had last week bought 73,486,938 shares of Twitter shares although he hinted that it is a passive investment
- Aside from Musk, there are other top 10 shareholders with the opportunity to steer the social media platform's operations
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Elon Musk has declined to join Twitter's board of directors, the company announced on Sunday, less than a week after revealing he is the social media company's largest shareholder and was offered a seat.
Musk's appointment was supposed to become official on Saturday, but Twitter CEO Parag Agrawal tweeted late on Sunday to announce Elon Musk's decision, Bloomberg reports.
Musk paid $2.9 billion for the shares of Twitter, an investment he recouped 24 hours later.
While Agrawal did not say a reason for Musk's decision, he, however, noted that the board appointment was contingent on a background check as well as a formal acceptance by Musk.
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"I believe this is for the best," Agrawal said in a note to staff shared in his tweet. "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."
"There will be distractions ahead," he continued, but urged staff to "tune out the noise."
Shortly after Agrawal's announcement, Musk tweeted an emoji of a face with a hand over its mouth (he deleted the tweet hours later).
Other big shareholders aside from Elon Musk
Meanwhile, check out the top 10 shareholders of Twitter stock besides Musk:
- Vanguard owns 70,375,259 shares
- Morgan Stanley owns 70,157,074 shares
- Blackrock, Inc owns 51,858,827 shares
- State Street Corp owns 36,363,324 shares
- Aristotle Capital Management owns 21,112,134 shares
- FMR LLC owns 17,641,927 shares
- Ark Investment Management owns 17,245,755 shares
- Clearbridge Investments owns 16,733,505 shares
- Geode Capital Management owns 14,314,021 shares
- Sumitomo Mitsui Trust Holdings owns 12,467,698 shares
Kwaku The Traveller: Black Sherif's Song Plays At 2022 NBA Game In Dallas
Meanwhile, Ghanaian musician Mohammed Ismail Sherif Kweku Frimpong famed as Black Sherif is in the news for all the right reasons over his Kwaku The Traveller hit song.
In a new twist of excitement and good news, the musician's song made it to the home ground of the National Basketball Association (NBA).
A pregame rotation between Dallas Mavericks and Portland Trailblazers saw Black Sherif's song blasting through the speakers as fans of the two NBA teams jammed to it.
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