Elon Musk Refuses Board Seat At Twitter - Is There An Opening For A Hostile Takeover?

Tesla CEO Elon Musk changed his mind and decided to walk away from his recently accepted seat on Twitter’s board. It creates a lot of confusion and opens the door to a hostile takeover.

If you have been living under a rock last week, you might have missed the whole saga about Musk investing in Twitter.

On Monday, an SEC filing reveals that Musk has been buying shares of Twitter and that his investment now surpasses $3 billion or about 9% of the company’s total outstanding shares.

It’s enough to make him the single largest shareholder, and he even has four times more shares than Twitter cofounder and former CEO Jack Dorsey.