Following Elon Musk's recent acquisition of 9.2% of Twitter and last Tuesday's formal announcement that he would be joining the Board of Directors, Musk has declined the board seat.

My comment: I suspect that he has bigger plans in mind, if he was to accept the terms of directorship, he would have been forced to limit his ownership stake, by staying off the board, he is free to acquire a larger stock ownership or even to make a hostile takeover.

Of course, for those paying attention, this means that Musk can now own more than 14.9% of the company - a limit that board members must adhere to.

As the Wall Street Journal notes, "It was unclear why Musk refused the board seat. Adding Musk would have restricted how big a stake in the company he could own. Musk could now do anything from selling his stake to potentially pursuing a hostile takeover of the company."

We await the next Musk tweet with bated breath... As the article states:

Following Elon Musk's recent acquisition of 9.2% of Twitter and last Tuesday's formal announcement that he would be joining the Board of Directors, Musk has declined the board seat.

I suspect that he has bigger plans in mind, if he was to accept the terms of directorship, he would have been forced to limit his ownership stake, by staying off the board, he is free to acquire a larger stock ownership or even to make a hostile takeover.