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Tesla appoints Airbnb co-founder to board

Tesla has appointed Airbnb co-founder and billionaire Joe Gebbia to its board of directors, according to a securities filing.

Gebbia, a designer who co-founded Airbnb, officially joined the board September 25 as an independent director.

His appointment comes a few months after leaving day-to-day operations at Airbnb. He is now an advisor to the short-term rental company and also serves on its board. Gebbia also is on the board of Airbnb.org, an organization that encourages its hosts to open homes in times of crisis.

Gebbia has waived any entitlement to cash compensation, according to the filing posted Wednesday. He has also waived equity compensation until July 2023.

Gebbia replaces Oracle founder, chairman and CTO Larry Ellison who left the board earlier this year. Ellison joined the board in 2018, along with former Walgreens exec Kathleen Wilson-Thompson as part of Tesla's settlement with U.S. securities regulators over CEO Elon Musk’s infamous tweets about taking the company private. Musk also had to step down as chairman of the board and pay a $20 million fine as part of the settlement.