BILLION

esla CEO Elon Musk will no longer join Twitter’s board as previously announced, but the billionaire remains the social media platform’s largest shareholder.

Twitter CEO Parag Agrawal tweeted the news, then a weekend later tweets from Mr Musk suggested possible changes to Twitter, including making the site ad-free . Nearly 90% of Twitter’s 2021 revenue comes from advertising.

“Elon’s appointment to the board will officially take effect on September 4, but Elon shared on the morning of the same day that he will not join the board,” Mr. Agrawal wrote in a note. Reposted idea originally addressed to Tesla employees.

“I believe this is for the best.”

Mr. Agrawal offered no explanation for Mr. Musk’s apparent decision, although he did drop an important hint.

The Twitter Board of Directors “believes that Elon is a trustee of the company, where he, like all board members, must act in the best interest of the company and all shareholders. our east, is the best way forward,” he wrote.

At 9:30 p.m. on Sunday, Musk tweeted an emoji featuring a face with round eyes and a hand covering his mouth. The symbol is often used to suggest embarrassment or laughter, sometimes with the connotation of “Oops!”

It’s not clear what Musk meant by the tweet, and he didn’t elaborate on it either.

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