Tesla CEO Elon Musk won’t join Twitter’s board after all

SAN FRANCISCO (AP) — Billionaire Elon Musk, one of Twitter’s biggest shareholders, is reversing course and will no longer join the company’s board of directors, less than a week after being awarded a seat.

Twitter CEO Parag Agrawal announced the news, which followed a weekend of Musk tweets suggesting changes to Twitter, including making the site ad-free.

Nearly 90% of Twitter’s 2021 revenue came from ads.

Musk, it was revealed last week, had quickly amassed a massive stake in Twitter to become its largest individual shareholder.

Agrawal didn’t offer an explanation for the reversal, but said that the decision was made by the mercurial billionaire.