ELON Musk refused to join the Twitter board because they wanted to silence him, experts have claimed.
The Twitter boss revealed Musk’s about-face on Monday morning, saying it was “for the best” – but pundits now fear a Game of Thrones-style fight.
Billionaire tech tycoon earlier this month musk became Twitter’s largest shareholder with a 9.2% stake.
On April 5, Twitter CEO Parag Agrawal announced that Musk would join the board as a result.
But Tesla boss and richest man in the world, Musk, has now rejected the offer.
Experts have told The Sun that the decision was likely because Twitter wanted Musk to “take a back seat.”
“The Twitter board probably wanted Musk to stay quiet on Twitter in the background,” Wedbush Securities analyst Dan Ives told The Sun.
“And that was clearly not the case. The Game of Thrones fight is now on the horizon.”
Musk and Twitter executives have had several conversations about the SpaceX founder’s rise to the board.
It was still pending a background check and formal acceptance.
But this week, Twitter boss Parag tweeted: “Elon’s appointment to the board was to be formally elected on April 9th.
“But Elon announced that same morning that he would no longer be joining the board.
“I think that’s for the best.
“We have and always will value the input of our shareholders, whether they are on our board of directors or not.
“Elon is our largest shareholder and we remain open to their contributions.”
In the days following his Twitter stock purchase, Musk hinted at major changes to the app.
He asked users several times for their opinion on important Twitter updates.
These included adding an edit button (later confirmed by Twitter), making Twitter’s subscription service ad-free, and even converting Twitter’s San Francisco headquarters into a homeless shelter.
Experts now believe Twitter is in danger of being targeted by a hostile Musk.
“In our opinion, the Twitter board and Musk have been unable to reach an agreement on Musk’s communication with the public via Twitter,” industry observer Dan said in a note seen by The Sun.
“As he probably had to take a quieter stance as part of his joining the board.
“This now goes from a Cinderella story where Musk joined the Twitter board, to a likely ‘Game of Thrones’ fight between Musk and Twitter.
“With a high likelihood that Elon will take a more hostile stance on Twitter and continue to increase its active involvement in the company.”
Twitter’s stock price had risen significantly (up as much as 27%) in the days following Musk’s stock purchase, but fell overnight.
The share price was down 8% as of 4 a.m. New York time but has recovered to a nearly 3% drop.
Musk’s only response so far has been a “face with hand over mouth” emoji sent via Twitter.
Experts are increasingly worried about an unpredictable reaction from billionaire Musk.
“Having someone like Musk on board would be met with mixed feelings,” PP Foresight analyst Paolo Pescatore told The Sun.
“While all major stakeholders will welcome the stock price rise, his long-term intentions are unclear.
“The refusal to sit at the table has raised eyebrows and further fueled uncertainty about what is really going on and the long-term future.
“There has to be a conflict of interest or some kind of disagreement.
“Nonetheless, you cannot rule out further moves to increase his stake and control of the company.
“All options are still on the table.”
Musk had previously warned that Twitter ran the risk of violating free speech principles.
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https://www.thesun.ie/tech/8638976/elon-musk-twitter-board-game-of-thrones/ Elon Musk ‘feared Twitter would silence him’ if he joined board as pundits reveal ‘Game of Thrones’ style fight