Elon Musk, the world's wealthiest man and the biggest shareholder of Twitter, will no longer join the social media service's board of directors, the company said late Sunday, said the director of the company Parag Agrawal.

On April 5, the US Securities and Exchange Commission announced that Musk would join the board of directors of Twitter. Musk, in turn, then said that he was looking forward to starting work at the company, to make significant improvements to Twitter in the coming months.

On April 4, the US Securities and Exchange Commission released information that Musk owns a 9.2% stake in Twitter.