Tesla and SpaceX CEO Elon Musk abandoned his plans to join the board of Twitter after buying a 9% stake.
Highlights
- Tesla CEO Elon Musk has abandoned plans to join the board of Twitter.
- Musk proposed changes to Twitter’s subscription service, including price changes.
- Musk remains the largest shareholder of the social media company.
- Twitter’s stock briefly tumbled over 8% to less than $43 a share Monday, before recovering slightly.
- Musk’s appointment would have started on Saturday, “contingent on a background check and formal acceptance,” Twitter CEO says.
- Musk asked people to vote on whether Twitter should drop the “w” from its name, an allusion to “titter” Musk also suggested Twitter should turn its headquarters office into a homeless shelter, “since no one shows up anyway”