Musk is ‘someone stupid’ enough to succeed him as Twitter CEO

Dec 20 (Reuters) – Billionaire Elon Musk said on Tuesday he would step down as Twitter Inc’s chief executive after finding a replacement, but would continue to run some key divisions of the social media platform.

“I will soon resign as CEO if I find someone stupid enough to take the job! After that, I will run the software and server teams,” Musk wrote on Twitter.

Musk’s $44 billion acquisition of Twitter in October was marked by confusion and controversy, with some investors questioning whether he was too distracted to properly run his electric car maker, Tesla Inc. (TSLA.O)In which he is personally involved in manufacturing and engineering.

This is the first time since Twitter users that Musk has indicated that he is stepping down as the leader of the social media platform Voted The billionaire is expected to resign in a referendum launched on Sunday evening.

Reuters Graphics

In the referendum, 57.5% of about 17.5 million people voted “yes”. Musk had said on Sunday that he would abide by the decision. He did not give a timeframe for when he would step down and did not name a successor.

The poll results capped a whirlwind week that included changes to Twitter’s privacy policy and the suspension and reactivation of journalists’ accounts, drawing condemnation from news organizations, advocacy groups and authorities across Europe.

Musk predicted Twitter’s cash flow would break even by 2023, a Bloomberg reporter tweeted Wednesday, citing comments he made at a Twitter space session.

Bloomberg tweeted that Musk had recently taken to the social media platform to attribute the cost-cutting measures he had taken.

Wall Street calls for Musk to step down have been growing for weeks, and recently even Tesla bulls have questioned his focus on the social media platform and how it could distract him from running the EV maker.

Musk has said he has too much on his plate and is looking for a Twitter CEO. He said Sunday, however, that there was no successor and that “no one wants the job that can actually keep Twitter alive.”

Reporting by Ann Maria Shibu and Juby Babu in Bangalore; Edited by Ann Marie Rowntree and Christopher Cushing

Our Standards: Thomson Reuters Trust Principles.

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