Elon Musk won’t be joining Twitter’s board of directors, turning down the offer of a seat at the table after becoming the company's single largest shareholder last week when he bought a 9.2% stake. Musk relayed his decision on Saturday — the day he was due to be appointed, Twitter CEO Parag Agrawal said in a note. Musk posted a cryptic emoji of a face with its hand over its mouth shortly after the announcement was made in a since-deleted tweet. The SpaceX founder had publicly called into question Twitter’s approach to freedom of speech, before purchasing the stake for around USD 2.9 bn.

Weapons as ESG assets? A growing debate on classifying arms stocks as sustainability-friendly investments is fueling worries by environmental, social and governance fund managers that their USD 40 tn field is losing credibility, Bloomberg reports, citing fund managers. Arms lobbyists are using Russia’s invasion of Ukraine as a chance to rebrand the defense industry into a tool for preserving democracy, and EU lawmakers have been facing pressure to add defense companies to the bloc’s ESG rulebook. “If we were talking about this two years ago, people would be laughing at us saying how ridiculous that you put a defense stock in an ESG portfolio,” said TAM Asset Management’s chief investment officer.

Women celebrities are urging more women to invest in NFTs and crypto: Mila Kunis and Gwyenth Paltrow were among the speakers at a virtual event earlier this year that urged women to enter the male-dominated NFT space, writes the Washington Post. Twice as many men invest in crypto as women, according to a 2021 CNBC poll. The two celebrities argued that women are conditioned to be risk-averse which puts them at a disadvantage when it comes to acquiring wealth through non-traditional methods. The event was hosted by BFF, a community co-founded by Silicon Valley co-founder Brit Morin, to launch collections of NFTs. The 5k attendees were given a friendship bracelet NFT without charge, even as it is trading for at least USD 3k on the secondary market.

However, the girlboss rhetoric didn’t go over well with everyone: The event and the platform came under fire for limiting the movement to the privileged among women, ignoring women of color and at times not giving them credit for their work. This also came as Kunis badmouthed a similar venture to BFF called Friends With Benefits, which has a Black co-founder and a diverse membership.