Elon Musk decided against joining Twitter's board, CEO says, and 'this is for the best'

Twitter CEO Parag Agrawal announced Sunday night — on Twitter, naturally — that Tesla CEO Elon Musk informed him Saturday that he will not join Twitter's board of directors, as planned. Agrawal said he was sharing what he could about what happened.
After Musk became Twitter's largest individual shareholder, the company invited him to join the board, in part because they "believed that having Elon as a fiduciary of the company where he, like all board members, has to act in the best interests of the company and all our shareholders, was the best path forward," Agrawal wrote, adding that the appointment was "contingent on a background check." The morning his appointment was to take effect, Musk backed out, he added. "I believe this is for the best."
"Elon is our biggest shareholder and we will remain open to his input," Agrawal said. "The decisions we make and how we execute is in our hands, no one else's."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
By Peter Weber, The Week US
-
Elon Musk: has he made Tesla toxic?
Talking Point Musk's political antics have given him the 'reverse Midas touch' when it comes to his EV empire
By The Week UK
-
What does Musk's 'Dexit' from Delaware mean for the future of US business?
Talking Points A 'billionaires' bill' could limit shareholder lawsuits
By Joel Mathis, The Week US
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
By Justin Klawans, The Week US
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
By Peter Weber, The Week US
-
Trump's China tariffs start after Canada, Mexico pauses
Speed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
By Peter Weber, The Week US
-
Chinese AI chatbot's rise slams US tech stocks
Speed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
By Peter Weber, The Week US
-
Penny-pinching: Elon Musk looks at the cent to cut costs
In the Spotlight Musk's DOGE claims that millions can be saved if production on pennies is slashed
By Justin Klawans, The Week US