Elon Musk Confirms He Will Step Down as Twitter CEO

Elon Reeve Musk is a business magnate and investor. He is the founder, CEO, and chief engineer of SpaceX; angel investor, CEO, and product architect of Tesla, Inc.; owner and CEO of Twitter, Inc.; founder of The Boring Company; co-founder of Neuralink and OpenAI; and president of the philanthropic Musk Foundation. With an estimated net worth of around $164 billion as of December 13, 2022, primarily from his ownership stakes in Tesla and SpaceX, Musk is the second-wealthiest person in the world according to both the Bloomberg Billionaires Index and Forbes‘s real-time billionaire’s list.

Recently, Musk posted a poll on Twitter asking the platform’s consumers whether he should stay on as CEO. More than 57% of the millions who voted said he should step down from his role. After a long discussion with his professional and legal team, Musk has finally confirmed that he will step down as chief executive of Twitter as soon as a replacement is found.

“I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams,” Musk wrote on Twitter.

Elon almost spends 44$ billion to buy Twitter in this October, but just after his takeover Twitter users around the world not accepting him as CEO and lots of controversies are starting aries over social media. investors questioning if he is too distracted to also properly run his electric vehicle automaker Tesla Inc, in which he is personally involved in production and engineering. In the poll, 57.5% of around 17.5 million people voted “yes.” Musk had said on Sunday he would abide by the results. He has not provided a time frame for when he will step down and no successor has been named.

After months of lawsuits and the near miss of a full-blown trial, Musk finally seized control of Twitter at the end of October. After closing the $44 billion deal, Musk entered Twitter headquarters with a sink in his hands. Wall Street calls for Musk to step down had been growing for weeks and recently even Tesla bulls have questioned his focus on the social media platform and how it might distract him from running the EV maker.

In recent interview Musk already mentioned that he is managing so many businesses and now with the Twitter addon his load is out of control and he will search for someone to take control of Twitter. He said on Sunday, though, that there was no successor and that “no one wants the job who can actually keep Twitter alive.”