There is a theory that Elon declined it to not limit his stake to 14.9%; we won't know until the next SEC filing: https://twitter.com/JordanSchachtel/status/151

There is a theory that Elon declined it to not limit his stake to 14.9%; we won't know until the next SEC filing: https://twitter.com/JordanSchachtel/status/1513358367753973764 https://twitter.com/JordanSchachtel/status/15133583677539737... WSJ source about the 14.9%: https://www.wsj.com/articles/twitter-to-name-elon-musk-to-its-board-of-directors-11649162614 https://www.wsj.com/articles/twitter-to-name-elon-musk-to-it... > Mr. Musk’s board term is set for two years. So long as he remains a director, he can’t own more than 14.9% of the company’s stock, according to a securities filing. While neither Twitter nor Mr. Musk would give a reason for the cap, that means that Mr. Musk, for now, is precluded from taking over the company outright.