The rapidly evolving relationship between Musk and Twitter began exactly one week ago when regulatory filings revealed the mercurial billionaire had amassed a 9.2% stake in the social media platform, making him its largest shareholder.
A day later, Twitter gave Musk a seat on the board on the condition that he not own more than 14.9% of the company’s outstanding stock, according to a regulatory filing.
While Musk has been one of Twitter’s loudest critics, the sudden withdrawal from the board, which became official Saturday, could signal that the rapidly evolving narrative between Musk and Twitter will become more acrimonious.
“This now goes from a Cinderella story with Musk joining the Twitter Board and keeping his stake under 14.9% helping move Twitter strategically forward 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,” wrote Daniel Ives, who follows Twitter for Wedbush.
