Elon Musk has given up on serving on Twitter's board of directors.

Elon Musk has given up on serving on Twitter's board of directors.

Last week, Twitter's largest shareholder, the world's richest businessman, Elon Musk, decided not to join the company's board of directors.

Parag Agrawal, CEO of Twitter, announced Elon Musk's decision to the public.

Parag Agrawal, in his announcement on his Twitter account, did not explain why Musk would not be on the board of directors. Agrawal noted that they are open to Musk's contributions. Elon Musk, CEO of Tesla and SpaceX, announced last week that he bought 9.2 percent of Twitter's shares.