Charles Payne Calls Twitter ‘A Dying Company’ Amid Elon Musk Not Joining Board After All

Jackson RichmanApr 11th, 2022, 7:27 am
 

Fox Business host Charles Payne called Twitter “a dying company” on Monday amid Elon Musk not joining the board of directors of the social media company after all.

On Saturday, Musk retweeted a post listing the Twitter accounts with the most followers and added, “Most of these ‘top’ accounts tweet rarely and post very little content. Is Twitter dying?”

“For example, @taylorswift13 hasn’t posted anything in 3 months,” he added.

During Fox & Friends on Fox News, Payne said:

It is dying in that sense because the engagement comes from TikTok. That’s where people interact and engage. That’s the most exciting social media platform in the world. In the last quarter, let me just tell you about their quarterly financials, because this a free speech story but it’s also a financial story. Net income was down 18 percent. Earnings down 25 percent. Net profit margins down 33 percent. Change in cash down 500 percent. This is a dying company, he’s absolutely right.

In a statement about Musk not joining the board, Twitter CEO Parag Agrawal said:

Team,

Elon Musk has decided not to join our board. Here’s what | can share about what happened.

The Board and I had many discussions about Elon joining the board, and with Elon directly. 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. The board offered him a seat.

We announced on Tuesday that Elon would be appointed to the Board contingent on a background check and formal acceptance. Elon’s appointment to the board was to become officially effective 4/9, but Elon shared that same morning that he will no longer be joining the board. I believe this is for the best. We have and will always value input from our shareholders whether they are on our Board or not. Elon is our biggest shareholder and we will remain open to his input.

There will be distractions ahead, but our goals and priorities remain unchanged. The decisions we make and how we execute is in our hands, no one else’s. Let’s tune out the noise, and stay focused on the work and what we’re building.

Watch above, via Fox News.

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