Twitter CEO Parag Agrawal said last week that Elon Musk, who is the largest shareholder of the social media platform, would join the company's board of directors. The decision came after the Tesla CEO's outcry over modifications to Twitter

In the week since then, Parag Agrawal has stated that Musk does not want to be a member of Twitter's board of directors, but will continue to play a key role in the company's development.

Netizens were taken aback by the revelation, and many began to speculate on the reasons behind Musk's withdrawal.

Recently, Musk proposed a number of changes to the platform in a series of tweets. One of them was the edit button, which the company promised will be available to everyone in the near future.

The tweets were posted after Elon Musk became the company's largest stakeholder by acquiring a 9.2 percent stake in Twitter last week.