The euphoria regarding the buying of stakes in Twitter by Elon Musk will be short-lived as news making the rounds reveals that the billionaire has reportedly declined the offer of being a member of the Board of Directors at Twitter.
According to the CEO of Twitter, Parag Agrawal, the Tesla boss, has decided not to be a part of the company’s decision-making body. The new development arose after the CEO announced the appointment of Musk as a board member the previous week.
In his most recent email to the team, Agrawal revealed that before appointing Musk as a board member, he had meetings with the board and Musk himself. However, the Tesla CEO announced that he would not be part of the Twitter team on the same day he was appointed.
Musk’s Twitter Stake
In the first week of the month, Musk disclosed that he had purchased a 9.2% stake in Twitter, which places him as the largest shareholder of the social media behemoth.
The announcement came on the heels of the billionaire’s poll on Twitter, seeking the opinions of his followers on several issues experienced on the social media platform, especially that of free speech. And it appears that the Tesla boss may have thought that being the majority shareholder on Twitter would give him a say in decision making.
Meanwhile, the motivation behind Musk’s decision to take the plunge on Twitter is yet to be known, although observers are keen to point out his previous call for improved service delivery from Twitter.
The Proposed Changes
On April 9, the billionaire shared his new proposal to introduce a monthly subscription fee of $3 for users of the Twitter Blue services, effectively charging users before giving them access to the platform.
The new suggestion is to tackle the menace of the bot army and impersonators, whose activities have been out of control for some time now. Another suggestion of his is that Twitter should also start accepting payments in Dogecoin, which would be a big boost for the meme coin.
Furthermore, Musk has been critical of the inability of the Twitter team to protect users from spambots on the platform, saying that scammers use this to defraud unsuspecting victims. Musk was not alone in his criticism of Twitter. Dogecoin co-founder Billy Markus also revealed how some desperate developers use influential personalities’ names to scam people on Twitter.
The sudden change of events is bound to leave a sweet-and-sour experience for the Doge community, with high expectations for the billionaire to use his position on Twitter to advance the meme cryptocurrency.
However, Twitter’s CEO disclosed that the suggestions offered by Musk are likely to be considered going on the highlighted issues that have continued to generate negative reviews for the social media giant.
For the strong Doge army, the remark made by Agrawal might suggest that the company may consider integrating DOGE payment on Twitter even in the absence of Musk.