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Elon Musk, Again an Outsider at Twitter, Emerges as Unshackled Wild Card for Company

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After unveiling a roughly 9% stake in Twitter, Elon Musk was provided a seat on the board, which he declined on Saturday.Photograph: jim watson/Agence France-Presse/Getty Photos

Elon Musk’s shock resolution to not be a part of Twitter Inc.’s board offers the social-media firm much less management over its largest shareholder, paving the way in which for him to press for adjustments and converse out freely concerning the firm as an activist investor.

After unveiling final week a roughly 9% stake in Twitter, Mr. Musk was provided a seat on the board, which he declined on Saturday.