Late in October, the entrepreneur purchased the site for $44bn, but his brief tenure has been chaotic.
Elon Musk will resign as Twitter CEO if he honors his promise to accept the results of a user-conducted referendum over his term.
The owner of Tesla and SpaceX initiated his poll just after 11 pm UK time, writing: “Should I resign as Twitter’s CEO?
I will adhere to the findings of this survey.
And after the deadline passed at 11:20 a.m., 57.5% of voters supported his departure.
Musk paid $44 billion for the platform in late October, but his brief stay has been contentious.
In an apparent effort to end his contentious reign, he asked Twitter users on Sunday to determine whether he should resign.
Approximately 20 minutes later, as the ‘yes’ votes began to take the lead, he continued, “As the adage goes, be careful what you wish for, because you may get it.”
In response to several user comments, he told one, “The difficulty is not finding a CEO, but finding a CEO who can keep Twitter alive.”
He continued, “No one is interested in the position who can truly keep Twitter alive. There is no replacement.”
It is unknown whether or when he would hand over the daily operations of the social media company.
In an extraordinary turn of events, rapper Snoop Dogg threw his name into the ring, creating his own Twitter post asking if he should assume control.
As of 12:20 p.m. UK time, more than 80 percent of those who voted were in favor.
Mr. Musk waged war on Twitter’s social media competitors on Sunday by prohibiting the promotion of their accounts on his site.
This means that users’ accounts could be suspended, locked, or destroyed if they post links to their profiles on other social networking sites, including Facebook and Instagram owned by Meta, Mastodon, and Donald Trump’s Truth Social.
Musk vowed to enhance Twitter upon assuming leadership by eliminating phony accounts and enhancing free speech.
Concerns are growing regarding the company’s direction and Musk’s capacity to pay interest on the $13 billion debt he incurred to acquire the company.
On Saturday, Reuters reported that Musk’s team has urged investors for further cash, two days after selling another $3.6 billion in Tesla shares, bringing his total sales of Tesla news to roughly $40 billion this year.
