Elon Musk turns down seat on Twitter's board, after investing enough for an invite
NBCOct 19, 2021
The Facts
Twitter CEO Parag Agrawal announced that Tesla CEO Elon Musk will not be joining the board of the social media company after all.
The Sun. night announcement came less than a week after Musk revealed that he'd become the company's largest single shareholder by acquiring a 9% stake, a move that prompted an invitation to join the board.
The Spin
Left narrative
Elon Musk is not capable of acting as a fiduciary to anyone but himself. He violated SEC rules to pad his own profit as he bought up his 9.2% stake in Twitter, just like he used Twitter to pump up the stock price of his other businesses.
Right narrative
Musk is a true proponent of free speech, which he recognizes is absolutely essential to a functioning democracy. He knows all too well that big tech and mainstream media are dominated by rich people who use them to advance their own political objectives. He was simply trying to use his leverage as an investor to make Twitter adhere to its own policies and stir the pot a bit.
Cynical narrative
We haven't heard the last of the Musk and Twitter saga. By refusing a seat on the board, Musk was able to change his status with the SEC, a move that will allow him to continue to enlarge his stake in the company and to pursue real reforms.
