Should I step down as head of Twitter? Elon Musk asks users
Elon Musk asked users to vote whether he should step down as CEO in a poll he posted on Twitter, promising he would “abide by the results.” The effect on Elon Musk’s other businesses is one of the theories around his proposal to step down from the post.
As Twitter’s CEO, Musk has had a turbulent few months. He started by firing thousands of employees and enacting significant policy changes, including the untimely introduction of the Twitter Blue premium subscription plan. Musk has also revoked bans on numerous controversial individuals and organizations, including former US President Donald Trump.
Musk had previously stated that he didn’t want to continue as CEO of Twitter for very long.
“Should I step down as head of Twitter? I will abide by the results of this poll,” Musk tweeted.
Musk has been focused on generating cash despite rumours of advertisers quitting the platform and a considerable decline in revenue; yet, he has stated that the social networking platform may go bankrupt. Currently, he serves as CEO of the Musk Foundation, SpaceX, The Boring Company, Tesla Inc., and The Boring Company. Recent criticism for disregarding his other jobs has come from major Tesla stockholders.
Elon Musk has “abandoned Tesla”
KoGuan Leo, one of Tesla’s most prominent individual investors, tweeted earlier this week that Musk has “abandoned Tesla” and “Tesla has no working CEO.” In a subsequent tweet, he said it would be preferable if Musk found a CEO for Twitter.
Numerous reports have made clear that Tesla’s stock has not been performing well. According to reports, Tesla’s stock price had decreased by 50% from the previous year and had reached a 52-week low. Musk is now ranked second on the list, having lost his position as the wealthiest person in the world.
The vote will remain open until around 4:30 p.m. India time on Monday, or 3 a.m. PST, and the results will be available soon.
