The announcement comes just eight weeks into Musk’s eventful tenure as head of the social media platform. He added that he will “run a software and server team” at the company after he finds a replacement.
Things came to a head on Sunday for the billionaire. After a tumultuous few days when Twitter banned both prominent journalist and the Promoting Competing Social Media Platforms — A decision that has since been overturned — Musk We conducted a Twitter poll to decide if he should stay on as Chief Twit.
The results came on Monday morning. Over 17.5 million users voted, with 57.5% saying his Musk should resign. He said he would follow the results of the polls, but waited about 40 hours before confirming that he would actually vacate his CEO post.
A timeline for the replacement has yet to be announced, with Musk previously warning that anyone who wants to run Twitter “must love pain”. Whoever takes over the helm will have a difficult road ahead of them.
The company has never turned a profit and Mr. Musk has warned it is headed for bankruptcy.In an era when a billionaire was controversial as his CEO, big companies stop advertising to the site. The relaunch of Twitter Blue, a subscription service that Musk has declared to be a profit driver for the company, has been postponed several times. It’s now reopened, but it’s unclear how many people have subscribed.
And for Musk, who is also Tesla’s CEO, another problem is on the rise.Many high-profile investors have loudly complained that Musk’s erratic Twitter leadership had a negative impact on the auto company. more than this richest person in the world.
Musk I participated In last night’s Twitter Space, he said Twitter’s future was improved by his leadership. “That’s why I’ve spent the last five weeks cutting costs like crazy,” he explained. “This company is basically like being on a plane that’s on its way to the ground at high speed with the engine on fire and the controls failing.”