• Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
Wednesday, July 6, 2022
No Result
View All Result
Our Bitcoin News
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
No Result
View All Result
Our Bitcoin News
No Result
View All Result

Elon Musk declines to join Twitter’s board despite being largest shareholder

News
by Damien Martin
11 April 2022
Elon Musk declines to join Twitter’s board despite being largest shareholder

Source: Unsplash

Share on FacebookShare on Twitter

Elon Musk, CEO of Tesla and SpaceX, has decided not to join Twitter’s board of directors despite recently becoming the largest shareholder at the company. Twitter CEO Parag Agrawal announced the news via a Tweet on Monday.

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

“Elon’s appointment to the board was to become officially effective 4/9, but Elon shared that same morning that he will no longer be joining the board,” Agrawal said in the tweet. “I believe this is for the best. 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.”

Large shareholders are generally offered a seat on the board of directors to manage the operations of the company. Musk was also offered one, as revealed by a regulatory filing made by Twitter on April 4.

Per the terms of the filing, Musk was not allowed to purchase more than 14.9% of the firm’s stock if he chose to become a board member. Meanwhile, neither Musk nor Agrawal have revealed the reason behind the move.

Earlier this month, Elon Musk, the world’s richest man, acquired a 9.2% stake in Twitter following the purchase of 73,486,938 shares, which is roughly equivalent to $2.89 billion. The move made him the biggest shareholder in the company, surpassing the ownership of Twitter co-founder Jack Dorsey’s 2.25% stake.

Tags: featured
Previous Post

Australian police seize crypto ATMs, cash, drugs during inter-agency raid

Next Post

DEA’s DEAPcoin Set For Listing On Digital Asset Exchange XT.com

Damien Martin

Damien Martin

Damien has a rich history in the fintech and business reporting world. He is currently working at OBN to cover the most important news from the blockchain industry.

Related Posts

New bipartisan bill seeks to make CFTC official cryptocurrency regulator

New bipartisan bill seeks to make CFTC official cryptocurrency regulator

by Gauri Bhatia
29 April 2022

Some US bipartisan lawmakers have submitted a bill that seeks to foster innovation in the cryptocurrency space and build a...

Animoca Brands establishes joint venture with OneFootBall following $300M round

Animoca Brands establishes joint venture with OneFootBall following $300M round

by Gauri Bhatia
29 April 2022

Hong Kong-based Web 3 giant Animoca Brands has now formed a strategic joint venture with OneFootball, Football news and media...

Goldman Sachs issues its first Bitcoin-backed loan: report

Goldman Sachs issues its first Bitcoin-backed loan: report

by Damien Martin
29 April 2022

Goldman Sachs has taken another bullish step towards the digital asset space, now offering Bitcoin-collateralized loans to its customers, media...

No Result
View All Result

Recent Posts

  • Understanding the Tokenomics of ZNT: DeFi protocol Zenith’s official token
  • Huobi Incubator kicks off Web3 Hackathon to foster next generation of Web3 start-ups
  • Huobi Incubator concludes BeWater DevCon 2022 encouraging dialogue amongst developer communities
  • Huobi Global and PrimeEarn provide one of the best experiences and profits
  • Sharknado Co-Creator and Snowpiercer Producer Launch New Token $FLIX to Revolutionize Indie Film
Our Bitcoin News

© 2021 Our Bitcoin News

Navigate

  • Home
  • Press Release
  • Sponsored
  • Our Journalists
  • Advertise
  • Editorial Policy
  • Privacy Policy
  • Terms & Conditions

Follow Us

No Result
View All Result
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners

© 2021 Our Bitcoin News