Elon Musk recently disclosed a 9.2% stake in Twitter, making the Tesla and SpaceX CEO the social media platform’s largest shareholder. Musk’s stake was celebrated by Twitter’s top brass, who soon offered him a board seat. But on April 10, Twitter CEO Parag Agrawal shared that Musk declined the offer.Twitter’s board seat, naturally, came with strings attached: Accepting would have made Musk a company insider by US regulatory standards, and involved additional limits on how he could trade stock and speak publicly about Twitter. Taking the board seat would have also meant pledging not to buy more than 14.9% of Twitter’s stock while serving in the role, or for 90 days afterward. The company’s of
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