Elon Musk is the world’s richest man after turning down seat on Twitter’s board

Elon Musk will not feature on Twitter’s board despite becoming a major shareholder in the company.

The world's richest man bought a 9.2% stake in the social media platform making him its largest investor and earning him an invite onto its board.

Musk was due to become its newest member on Saturday, April 9, but turned down the opportunity last minute.

Parag Agrawal, Twitter’s CEO, said: “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.”

After the news of the plan change became public, Musk tweeted and then deleted a lone facepalm emoji.

Musk has also, for the first time,topped the Forbes rich listrising to the number one spot on April 5 and knocking Amazon founder Jeff Bezos into second place.

But just how much riches does the world’s richest person have? Read on to discover Elon Musk’s net worth.

What is Elon Musk’s net worth?

According to Forbes, Elon Musk boasts a net worth of a massive $219billion (£166bn) as of March 11.

His rise to the top spot on the list came after he added a huge $68bn (£52bn) to his net worth over the past year, seeing him rise above the competition for the world’s wealthiest.

Meanwhile, his main rival Bezos, took a hit as Amazon’s stock dropped by 3% costing him $6bn (£4.6bn) – he also increased his spending on charity.

Musk and Bezos make up two of the 2,668 billionaires on the Forbes rich list, although last year there were slightly more with 2,755.

Musk has become a well-documented figure on Twitter with a massive 81 million followers at the time of writing.

In recent days, Musk took to his newly-part-owned platform to poke fun at it, suggesting its San Francisco headquarters be turned into a homeless shelter “since no one shows up anyway”.

At the end of his statement, Mr Agrawal said: “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.”

How did Elon Musk make his money?

  • Elon Musk won't become Twitter director after posting rude poll about company's future

Musk’s first big break came from his second startup, a clever little idea that allowed people to easily pay for goods and send money to friends. It was called PayPal and, three years after starting it in 1999, flogged it to eBay for a massive £1.15billion.

The following year, in 2003, he started Tesla, a pioneering electric vehicle company that looked to solve issues of non-petrol driving that hadn't been tackled before.

Tesla is worth around a trillion dollars these days and has allowed him to explore other areas of interest, including SpaceX a key player in the enterprise-owned space race gathering momentum in the 21st century.

As well to these well-known firms, Musk has also been a key player in a number of other ventures, all are valued in the hundreds of millions, others in the billions.

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