Twitter on Sunday said that Elon Musk rejected its offer to join the social media firm's board.
The company’s Chief Executive Parag Agrawal said that the company's board held many discussions with Musk but did not state the reason for the Tesla CEO's decision.
The announcement was so abrupt that Musk was still listed on Twitter's board of directors on its website as of early Monday.
Musk, a frequent user of Twitter, makes announcements about his company and a variety of issues to his more than 80 million followers on the social media platform.
Before taking a 9.1% stake, Musk ran a Twitter poll asking users if they believed Twitter adheres to the principle of free speech.
A day after becoming the largest shareholder, he launched another poll asking users if they wanted an edit button, a long-awaited feature on which Twitter has been working.
Twitter shares, which soared 27% on April 4 after Musk disclosed his stake, have lost 7.5% since then to Friday's close.
-Reuters