Elon Musk has stated that he will retire as Twitter’s CEO if he finds someone “dumb enough to take the position.”
The billionaire agreed to adhere to the result of a Twitter poll in which 57.5% of users voted “yes” to his resignation.
He claims that he will continue to lead the software and server teams after his replacement has been selected.
Since he took leadership, alterations to the platform have been heavily criticized.
Since Mr. Musk purchased the social media site in October, he has fired around half of its employees and attempted to implement Twitter’s paid-for verification feature before pausing it. Last week, the function was relaunched.
In addition, civil rights groups have criticized his approach to content moderation, accusing him of adopting moves that will encourage hate speech and disinformation.
Friday, the United Nations and the European Union slammed Mr. Musk for Twitter’s move to suspend some journalists covering the social media company.
The United Nations stated that media freedom is “not a game,” while the European Union threatened Twitter with sanctions.
This is the first time the multibillionaire has responded to the Sunday-launched poll requesting his resignation. More than 17.5 million users voted, and 42.5% opposed Mr. Musk’s resignation.
According to Mr. Musk, finding someone to take over the social media network may be difficult. After laying off Twitter employees last month, the billionaire reportedly informed the surviving employees that the company he recently acquired could have “the net negative cash flow of several billion dollars” in 2023 and that “bankruptcy is not ruled out.”
Following this week’s poll, he tweeted, “No one wants the job who can maintain Twitter.”
Some predict that Twitter co-founder Jack Dorsey could return to lead the company. In November 2021, he resigned as chief executive officer.
Sheryl Sandberg, the former chief operating officer of Facebook, Sriram Krishnan, an engineer and close confidant of Mr. Musk, and Jared Kushner, the former US presidential adviser and son-in-law of Donald Trump, are also cited as potential replacements.
Mr. Musk has previously responded to Twitter polls. The Latin phrase vox populi, vox Dei, which roughly translates as “the voice of the people is the voice of God,” is frequently cited by him.
In the future, though, only paid Twitter subscribers with a blue checkmark would be able to vote on policy changes, he said on Tuesday.
It occurred when a user alleged that bots had voted strongly in the poll about Mr. Musk’s role at the company. Mr. Musk described the claim as “interesting.”
Elon Musk’s term as Twitter’s top executive may have been brief, but it was surely bitter.
At moments, it felt as if we were witnessing a derailed train.
He seems to relish creating the circus. Did he become bored, did his investors pull him back, or did he finally listen to those who told him that Tesla, the electric vehicle company to which a large portion of his wealth is tied, requires immediate attention from its CEO – also him – as the company’s stock price continues to plummet?
Given Mr. Musk’s seeming transparency on Twitter, he may inform us one day.
However, this is not the conclusion of the Musk/Twitter show. He will continue to control the company (no one is likely to buy it from him shortly, especially at the amount he paid), and he will remain a prolific and prominent tweeter in his own right.
In addition, he must find someone willing to take his place (and work alongside him), which may prove challenging.
The premium Twitter verification service was rolled out a second-time last week after its initial rollout was halted. The service costs $8 a month, or $11 for Twitter app users on Apple devices, and customers receive a “blue tick.”
Previously, a free blue tick was employed as an indication of genuineness.
Investors have demanded for weeks that Mr. Musk step down as CEO of Twitter because he has been distracted from operating Tesla.
Over the past year, shares of the electric car manufacturer have dropped by more than 65 percent.
Mr. Musk sold billions of dollars worth of Tesla shares to fund his acquisition, which contributed to a decline in the stock price.
After Mr. Musk’s tweet on Tuesday, Dan Ives of research firm Wedbush Securities tweeted, “Finally a solid move in the right direction to resolve this agonizing nightmare situation for Tesla investors.”
