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More than 24 hours after a majority of voters in a Twitter poll asked him to step down as CEO of the company, Musk finally broke his silence and announced that he would resign as soon as he found a suitable replacement. The announcement comes as rumors on the street suggest that Mr. Musk is aggressively looking for a replacement to run one of today’s most important social networks. After acquiring Twitter for $44 billion earlier this year, Musk has struggled to find creative ways to generate revenue on a platform that is not yet profitable, according to publicly available data prior to the acquisition.
Musk plans to run Twitter software and server teams after leaving the first round
The latest bit of controversy surrounding the electric car billionaire has him catapulting himself into the middle of deeply divided American politics. Musk criticized previous Twitter management policies of suppressing free speech on the platform and took several steps to reverse those decisions by reactivating various accounts. At the same time, he’s also taken action against fake accounts, or ‘bots’ on the platform — which have often surrounded Musk’s tweets as well — since he’s one of the most outspoken public figures on Twitter.
After coming under fire from several quarters for unwise decisions after taking office, the CEO created a poll on his Twitter page earlier this week that simply asked those who vote if they would like him to resign. When the poll ended, 57.5% of the 17.5 million voters had voted “yes,” making the situation difficult for Mr. Musk, who also promised to “stand by the results of this poll.”
Things took a more interesting turn as the billionaire refrained from tweeting after the results were finalized. This was in sharp contrast to his habit of only stopping tweeting when he fell asleep.
In the aftermath of the poll, Musk saw only his other company’s retweet, SpaceX’s Starlink satellite internet service with more than 1 million subscribers, and a thread about a controversial Twitter thread outlining the administration’s past practices in public. However, that silence was shattered moments ago when Musk confirmed that he would indeed step down as head of Twitter and focus on running the company’s software and server teams instead.
In his own words:
I will resign as CEO as soon as I find someone stupid enough to take the job! After that, I’ll just run the software and server teams.
Throughout his tenure at Twitter, Musk has repeatedly shared how difficult it is to run another company. Once in office, he made the unpopular decision to fire most of Twitter’s workforce — only to call some of them back later. This was part of his efforts to ensure that the company’s most “hard-line” employees stayed on — which then led to many employees falling asleep at Twitter as well.
His time on Twitter has also agitated Tesla investors, who are now demanding that the CEO spend more time at his auto company instead. At the same time, National Aeronautics and Space Administration (NASA) officials have repeatedly sought assurances that the entire Twitter saga won’t affect SpaceX’s obligations to the company, according to unconfirmed reports. SpaceX is currently building the world’s largest rocket, Starship, in Texas, which, if operational, will be the first private rocket to land humans on the Moon.