Elon Musk Says Will Step Down as Twitter CEO After Finding 'Someone Foolish Enough' to Replace Him

Elon Musk tweeted that he would only run software and server teams at Twitter after stepping down as the company's CEO.

Advertisement
By Agence France-Presse | Updated: 21 December 2022 10:08 IST
Highlights
  • Musk has fully owned Twitter since October 27
  • He purchased Twitter for $44 billion (roughly Rs. 3,37,465 crore)
  • Musk recently suspended the accounts of several journalists
Elon Musk Says Will Step Down as Twitter CEO After Finding 'Someone Foolish Enough' to Replace Him

Twitter laid off half of its 7,500-strong staff

Photo Credit: Reuters

Elon Musk said Tuesday he would resign as chief executive of Twitter once he finds a replacement, in apparent response to a poll he launched that suggested users wanted him to step down.

Musk has fully owned Twitter since October 27 and has repeatedly courted controversy as CEO, sacking half of its staff, readmitting far-right figures to the platform, suspending journalists and trying to charge for previously free services.

"I will resign as CEO as soon as I find someone foolish enough to take the job!" Musk tweeted, saying he will then only run software and server teams at Twitter.

Advertisement

In the poll results which were posted on Monday, 57 percent of voters, or 10 million votes, favored Musk stepping down just weeks after he took ownership of the company for $44 billion (roughly Rs. 3,37,465 crore).

Advertisement

Musk has used the Twitter polls to take other decisions on the platform, including the reinstatement of the account of former US president Donald Trump and other suspended users.

Earlier this week he used a laughing emoji to ridicule a report he was in search of someone to take over as boss of Twitter, and tweeted that "no one wants the job who can actually keep Twitter alive."

Advertisement

Analysts have pointed out that the stock price of his electric car company Tesla has slumped by one-third since Musk's Twitter takeover, and some suggest Tesla's board was putting pressure on him to quit his Twitter role.

"Finally a good step in the right direction to end this painful nightmare situation for Tesla investors," said Wedbush analyst Dan Ives on Tuesday.

Advertisement

In discussions with users after posting his latest poll, Musk had renewed his warnings that the platform could be heading for bankruptcy.

Policy by poll?

The unpredictable entrepreneur posted his poll on his resignation shortly after trying to extricate himself from yet another controversy.

On Sunday, Twitter users were told they would no longer be able to promote content from other social media sites.

But Musk seemed to reverse course a few hours later, writing that the policy would be limited to suspending accounts only when that account's "primary purpose is promotion of competitors."

The attempted ban prompted howls of disapproval and even bemused Twitter cofounder Jack Dorsey, who had backed Musk's takeover.

Analyst Ives noted that "advertisers have run for the hills and left Twitter squarely in the red ink potentially on track to lose roughly $4 billion per year."

Shortly after taking over the platform, Musk announced it would charge $8 (roughly Rs. 600) per month to verify account holders' identities, but he had to suspend the "Twitter Blue" plan after an embarrassing rash of fake accounts. It has since been relaunched.

On November 4, with Musk saying the company was losing $4 million (roughly Rs. 33 crore) a day, Twitter laid off half of its 7,500-strong staff.

Musk also reinstated Trump's account — though the former US president indicated he had no interest in the platform — and said Twitter would no longer work to combat Covid-19 disinformation.

In recent days, he suspended the accounts of several journalists after complaining some had published details about the movements of his private jet, which he claimed could endanger his family.

Some of the suspended accounts have since been reactivated.

On Monday, the head of the European Parliament, speaker Roberta Metsola, sent a letter to Musk inviting him to testify before the legislature, her spokesman said.

The parliament has no power to compel Musk to turn up, and his response was not immediately known.


What are the best smartphones you can buy in India in 2022? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated - see our ethics statement for details.
 

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Elon Musk, Twitter
Advertisement

Related Stories

Popular Mobile Brands
  1. Redmi 15 5G Launching Today: From Price to Features, All You Need to Know
  2. Redmi Note 15 Pro+ Launch Date, Design, Key Features Confirmed
  3. OpenAI Launches ChatGPT Go in India as a Low-Cost Subscription Plan
  4. Xiaomi Smart Home Screen Max 27 With 9,700mAh Battery Launched
  5. Airtel Rolls Out Free Apple Music Subscription for These Users in India
  6. Realme P4 5G Price in India Announced Ahead of Launch in India
  7. Samsung Galaxy A17 5G Price Leaked: Here's How Much It Might Cost in India
  8. Google Pixel 10 Series Accessories Listed by Retailers Days Ahead of Debut
  9. Grok Imagine Is Free for All Users Globally: How to Use It
  10. Airtel Down? Why Thousands of Users Couldn't Make Calls, Send Messages
  1. Nintendo Announces Direct Presentation With 'In-Depth' Look at Kirby Air Riders
  2. Google Docs Is Getting a New Gemini Feature That Lets Users Listen to Documents
  3. Honor Magic V5 Global Launch Date Announced; Colour Options Revealed
  4. Google Tests ‘Scroll and Translate’ Feature for Circle to Search on Pixel Phones: Report
  5. OpenAI Launches ChatGPT Go in India as a Low-Cost Subscription Plan With Higher Limits, Longer Memory
  6. Samsung Galaxy Buds 3 FE Launched With ANC, Hands-Free Gemini Support: Price, Specifications
  7. Airtel Rolls Out Free Apple Music Subscription for Prepaid Users in India for Six Months
  8. Redmi 15 5G Launching Today: Know Price, Features, Specifications and More
  9. Google's Circle to Search Feature Could Get Real-Time 'Live Translate' Feature: Report
  10. Realme P4 5G Price in India Revealed Ahead of August 20 Launch Date
Gadgets 360 is available in
Download Our Apps
Available in Hindi
© Copyright Red Pixels Ventures Limited 2025. All rights reserved.