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Musk decides not to join Twitter board

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Tesla and SpaceX CEO Elon Musk is no longer joining Twitter's board of directors.

Musk previously announced his plans to join the board after becoming the company's largest shareholder.

"We were excited to collaborate and clear about the risks. We also believed that having Elon as a fiduciary of the company where he, like all board members, has to act in the best interests of the company and all our shareholders was the best path forward," said Twitter CEO Parag Agrawal.

Read more from CNBC.

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