ELON Musk refused to join the Twitter board because they wanted to silence him, experts have claimed.
Twitter’s chief revealed Musk’s U-turn on Monday morning, قائلا انه كان “for the best” – but experts now fear a ‘Game of Thrones’ style battle.
مسبقا في هذا الشهر, billionaire tech tycoon المسك became Twitter’s largest shareholder with a 9.2% stake.
في ابريل 5, Twitter CEO Parag Agrawal announced that Musk would be joining the board as a result.
Experts have told The Sun that the decision was likely because تويتر wanted to Musk to “take a back seat”.
Read more on Elon Musk
“The Twitter Board likely wanted Musk quiet in the background on Twitter,” said Wedbush Securities analyst Dan Ives, speaking to The Sun.
“And clearly that was not happening. لعبة العروش battle now on the horizon.”
It was pending a background check and formal acceptance.
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But this week Twitter boss Parag tweeted: “Elon’s appointment to the board was to become officially elective April 9.
“But Elon shared that same morning that he will no longer be joining the board.
“I believe this is for the best.
“We have and will always value input from our shareholders whether they are on our board or not.
“Elon is our biggest shareholder and we will remain open to his input.”
In the days following his Twitter stock buy-up, Musk hinted at major changes to the app.
He polled users multiple times for their opinions on significant Twitter updates.
This included adding an edit button (later confirmed by Twitter), making Twitter’s subscription service ad-free, and even converting Twitter HQ in San Francisco into a homeless shelter.
Experts now think Twitter risks being targeted by a hostile Musk.
“In our opinion, the Twitter board and Musk could not come to an agreement around Musk’s communications with the public over Twitter,” said industry watcher Dan, in a note seen by The Sun.
“As he likely needed to take a more back seat, quiet stance as part of joining the Board.
“This now goes from a Cinderella story with Musk joining the Twitter Board…to likely a ‘Game of Thrones’ battle between Musk and Twitter.
“With the high likelihood that Elon takes a more hostile stance towards Twitter and further builds his active stake in the company.”
Twitter’s share price had risen significantly (by as much as 27%) in the days following Musk’s share purchase, but fell overnight.
Stock price had dropped by 8% at 4am New York time, but recovered to a fall of just under 3%.
Experts are increasingly worried over an unpredictable reaction by billionaire Musk.
“Having someone like Musk on board was going to be met with mixed feelings,” said PP Foresight analyst Paolo Pescatore, speaking to The Sun.
“While all key stakeholders will welcome the rise in share price, his long-term intentions are unclear.
“The refusal to take a seat at the table has raised eyebrows and further raises uncertainty as to what is really going on and the long-term future.
“There must be a conflict of interest or a disagreement of some kind.
“Having said this, you cannot rule out further moves to increase his stake and control of the company.
إنهم إلى حد ما خارج عن إرادتي ".
“All options are still on the table.”
Musk had previously warned that Twitter risked failing to adhere to free speech principles.
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