Twitter’s majority shareholder Elon Musk suggested that management should transform the Twitter office into a homeless shelter. That’s because nobody bothers to show up, he said.
This and other suggestions sprang from Musk’s Twitter account after the billionaire declined a board seat that came with his 9% stake.
Elon Musk Declines Chance to Join Twitter Board
Prior to mocking the Twitter office, Tesla and SpaceX CEO Elon Musk unexpectedly declined a board seat at the company.
Last Saturday, Musk informed Twitter to say that ultimately, he went against accepting a board seat at his social media platform of choice. He was supposed to officially start his new appointment that day.
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As a result, Twitter CEO Parag Agrawal announced Sunday that Musk will not take the offered position. However, the billionaire will remain the biggest individual shareholder of the company.
In return, Twitter will remain open to any input coming from Musk. Agrawal did not disclose any reason why Musk eventually backed out. “We were excited to collaborate and (be) clear about the risks,“ he said.
The Twitter CEO also said that being a board member while being a large stockholder does have an advantage. Musk would have acted “in the best interests of the company and all our shareholders was the best path forward,” he said.
Goals and Priorities Remain Unchanged at the Twitter Office
In addition, Agrawal encouraged Twitter employees to remain focused. Previously, many workers feared the entry of Musk would mean an upheaval in Twitter policy on free speech. “There will be distractions ahead but our goals and priorities remain unchanged,” he said.
Last April 5, both Musk and Twitter announced his inclusion on the board of directors. Following the board announcement, the Twitter stock went up by 4%.
During the previous day, the world’s richest person disclosed that his number of shares makes him Twitter’s biggest shareholder.
When Musk revealed his total stake, stock prices surged by more than 27%. As long as Musk serves on the board, he cannot own more than 14.9%. Now that he refused the board seat, he can now increase his 9% stake beyond the limits.
Musk Shares His Ideas To Transform Twitter
Over the weekend, Musk also posted a number of ideas to transform Twitter. One of his suggestions was a joke about removing the ‘W” in the company name.
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On Twitter, he suggested “Titter,” a vulgar reference to breasts. On a more serious note, Musk suggested that Twitter Blue account holders should have an advertisement-free experience.
“The power of corporations to dictate policy is greatly enhanced if Twitter depends on advertising money to survive,” he said.
In addition, Twitter Blue users should also have the option of paying with dogecoin. They should also get an “authentication” checkmark.
Turn the Twitter Office into a Homeless Shelter
Finally, Musk derisively suggested that the Twitter office should transform into a homeless shelter. That’s because “no one shows up anyway,” he said.
He first brought up the idea via a Twitter poll where he asked: “Convert Twitter SF HQ to homeless shelter since no one shows up anyway[?]”
Followers voted en masse for the suggestion. About 91% of the 1.5 million votes responded with Yes. Later, Musk wrote that this suggestion might not be a joke after all. He posted: “I’m serious about this one btw.”
Watch the Bloomberg Technology news video reporting that Musk Gets Twitter Board Seat:
What do you think of Elon Musk’s decision to not join the Twitter board? Do you think he wasted a golden opportunity to turn things around? Or, do you think that Twitter is better off without Musk’s input?
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