Elon Musk opts not to join Twitter board

In a sudden turn of events, Elon Musk has opted not to join the board at Twitter, just a week after purchasing a 9.2% stake in the company - worth nearly $3 billion.

CEO of Twitter, Parag Agarawal, made the announcement via the social media site Sunday evening, where he relayed the note that he reportedly sent to his company. 

In the statement he mentions that the Tesla CEO and the richest man in the world was offered a seat, as Agarawal and other board members were "excited to collaborate" with him. 

He further noted how Musk was set to be appointed to the board on Saturday, but a discussion between the two of them nullified that agreement. 

"I believe this is for the best," Agarawal said.

Though the exact reasoning is not yet clear, Agarawal continued to disclose that he would still remain open to input from Musk, as the company "will always value input from our shareholders whether they are on the board or not."

Agarawal concluded the statement with, "There will be distractions ahead, but our goals and priorities remain unchanged. The decisions we make and how we execute is in our hands, no one else's. Let's tune out the noise, and stay focused on the work and what we're building."

Musk had already begun making his ideas known to the public, some of which included an "authentication checkmark" and accepting subscription payments in cryptocurrency.

The news of the SpaceX founder joining the board on Twitter caused the company's stock value to skyrocket over recent days.

In true Elon Musk fashion, he offered only one emoji in a very cryptic tweet late Sunday evening. 

In:
• Elon Musk
• Twitter