Tag: Chief Twit

  • Elon Musk will step down as Twitter CEO once he finds a ‘foolish enough’ replacement

    Elon Musk will step down as Twitter CEO once he finds a ‘foolish enough’ replacement

    The billionaire Elon Musk announced on Tuesday that he will step down as Twitter’s CEO once he finds a replacement, although he will continue to oversee some crucial departments of the social media network.

    “I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams,” Musk wrote on Twitter.

    Some investors have questioned if Musk is too preoccupied to properly operate his electric vehicle automaker Tesla, in which he is actively involved in production and engineering. Musk’s $44 billion buyout of Twitter in October has been defined by upheaval and controversy.

    After Twitter users chose for him to stand down in a poll that the billionaire started on Sunday night, Musk has now publicly acknowledged leaving his position as the social media platform’s CEO for the first time.

    17.5 million individuals participated in the poll, and 57.5 per cent of them chose “yes.” Musk declared on Sunday that he will follow the outcomes. He has not specified a date for his resignation, and no replacement has been named.

    The survey findings brought to a close a hectic week that saw modifications to Twitter’s privacy policy and the suspension and reactivation of journalist accounts, all of which garnered criticism from news outlets, advocacy groups, and government officials across Europe.

    Musk stated in a Twitter Spaces session that Twitter’s cash flow will achieve break-even in 2023, according to a tweet from Bloomberg on Wednesday.

    Bloomberg claimed that Musk explained the forecast as a result of recent cost-cutting initiatives he has implemented on the social media site.

    Wall Street has been calling on Musk to leave for weeks, and more recently even Tesla supporters have questioned his focus on social media and whether it would be a distraction from operating the EV manufacturer.

    Musk has acknowledged that he has too much on his plate and that he will search for a new CEO of Twitter. But he claimed on Sunday that there was no one in place to take his place and that “no one wants the job who can actually keep Twitter alive.”

  • Elon Musk says he is buying Twitter to ‘help humanity’, not to make more money

    Elon Musk says he is buying Twitter to ‘help humanity’, not to make more money

    Elon Musk intends to collaborate with advertisers as his $44 billion purchase of Twitter is set to close. Musk reiterates that he is acquiring Twitter because it is a pillar of civilization and that doing so will benefit humanity in a statement to advertisers.

    Musk’s appeal reflects concerns that the platform might turn into a swamp of free-for-all commentary once he acquires it and that numerous people with extreme views could have unlimited access to it. With Musk leading Twitter, there is a chance that many advertisers may decide to abandon the platform.

    Musk guarantees in his note that once he buys Twitter, it wo n’t be free for all. It goes without saying that Twitter cannot devolve into a free-for-all hellhole where anything may be spoken without repercussions.

    “In addition to adhering to the laws of the land, our platform must be warm and welcoming to all,” he tweeted via a note.

    “Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise. To everyone who has partnered with us, I thank you. Let us build something extraordinary together.”

    In the message, Musk highlighted why he is buying Twitter. He says, “The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence,” he writes. “That is why I bought Twitter. I didn’t do it because it would be easy. I didn’t do it to make more money. I did it to try to help humanity, whom I love. And I do so with humility, recognizing that failure in pursuing this goal, despite our best efforts, is a very real possibility.”

    It’s the exact explanation Musk initially offered when he first announced his attempt to acquire Twitter for about $44 billion in April of this year. He quickly changed his mind, claiming he was no longer interested in purchasing Twitter because, in his opinion, the platform inflates the number of real, active users.

    Twitter disputed the accusations and sued Musk in court. Later, Musk promised to execute the transaction, and the court ordered him to do so by October 28.

    Elon Musk intends to collaborate with advertisers as his $44 billion purchase of Twitter is set to close. Musk reiterates that he is acquiring Twitter because it is a pillar of civilization and that doing so will benefit humanity in a statement to advertisers.