Why Elon Musk Didn’t Join Twitter’s Board of Directors

richest person in the world Elon Musk, has been on the agenda with the statement he made in the past few days. Popular social media platform from twitter It was said that the billionaire, who announced that he had bought shares, would first enter Twitter’s board of directors; In another statement that followed, it was announced that Musk would not be on the board. The platform, whose shares rose after the announcement of the acquisition, made a lot of money for the shareholders in a short time.

While people were surprised that Elon Musk was not included in the board of directors as much as they were surprised that Elon Musk took a share from Twitter, the information that emerged gradually began to clarify the issue. It seems that Tesla’s owner is a member of the Board of Directors. much more wants.

What does Elon Musk want to do?

Elon Musk, who has become the biggest partner of Twitter with the shares he bought, has listed what needs to be done about the platform, even though he announced that he will not join the board of directors. According to Elon Musk, Twitter has ‘paid subscription’Twitter BlueIt should lower the price of , remove ads and dogecoin must accept payment. Also advocating giving blue ticks to these subscribers, the new partner is building the company’s main building in San Francisco. for the homeless He said it should be turned into a shelter. According to Musk, this building is standing idly by.

Of course, we do not know for sure what the Tesla CEO wants to do, who said that he would not interfere with the management despite his recommendations. However, the resulting data allow us to make predictions and inferences in this direction. As a matter of fact, the information that has emerged today is that Elon Musk has recently more Twitter shares shows that he will.

Right now 3 billion dollars The businessman, who owns the Twitter stake, after announcing that he will not join the board of directors He rolled up his sleeves to buy more shares. Elon Musk, who has made applications to the US Securities and Exchange Commission (SEC), has submitted his first application. April 4He had done it. On this date Schedule 13G Tesla CEO, who filled out the form, declared that he owns more than 5 percent of Twitter.

People who own more than 5 percent of a company in the USA have to fill out the form called Schedule 13G within the legal period. In this direction, Musk, who made his declaration, did not perform this transaction within the legal period. According to the information obtained, the form 11 days late filled. This means a fine to the billionaire.

Elon Musk will be able to participate in meetings with the board and share his ideas

9.2 percentThe businessman, who bought a . Elon Musk to SECactive‘ submitted an updated 13D form stating he was an investor. This new document means that Musk can ‘express his views to the Board and/or members of the Company’s management team and/or the public via social media or other channels’ and ‘participate in discussions with the Board’.

To sum up, the fact that the business person, who is likely to buy more shares in the near future, has not joined the board of directors does not make much sense. The biggest shareholder of the company will probably be able to do whatever he wants with the pressure he will apply to the public and other shareholders and the statements he will make.