Elon Musk Twitter CEO to Step Down After Losing public poll

Elon Musk Twitter CEO to Step Down

Elon Musk Twitter CEO has a history of using Twitter polls to rubber-stamp major decisions so he tweeted a poll Sunday evening asking people to vote on whether he should step down as Twitter’s CEO. Musk said he would abide by the poll’s results.

More than 10 million people voted in favour of Elon Musk stepping down as chief executive of Twitter in a poll he posted on the site late on Sunday. As of Sunday evening, “Yes” was winning by a margin of 58% to 42%.

In several follow-up tweets, Musk suggested that he was serious about leaving and made a vague threat about Twitter’s future if he is voted out.

the billionaire, who bought the company and installed himself as its head just 50 days ago, has insisted there is no successor in the wings. “No one wants the job who can actually keep Twitter alive,” he said on the social network. “There is no successor.” Replying to another user who said they could do the job, Musk added “you must like pain a lot. One catch: you have to invest your life savings in Twitter and it has been in the fast lane to bankruptcy since May. Still want the job?”

On Sunday, Musk asked Twitter users whether he should step down as the head of the company, promising to abide by the results of his poll. When the poll closed on Monday, 58% said he should step down.

Musk, who lost his title as the world’s richest person earlier this month, also founded tunneling enterprise Boring Company, backs medical device company Neuralink and heads rocket company SpaceX.

Tesla investors have been concerned Musk has been spreading himself too thin following the Twitter deal.

Tesla shares have already lost nearly 60% of their value this year, as, like other carmakers, it battles supply chain issues and increasing competition in the EV space.

Last month, Elon Musk twitter CEO stated in a Delaware court that he planned to decrease his involvement with Twitter and eventually find a new leader to take over the management of the social media company. However, in response to a comment about potentially changing the CEO on Twitter, Musk stated on Sunday that “There is no successor.” The topic of Musk’s role as CEO of Twitter and a related poll about whether he should step down trended on the platform on Monday. This follows Twitter’s recent update to its policies, which prohibits accounts created solely for the purpose of promoting other social media platforms and content that includes links or references to rival platforms.