Elon Musk Says He’s Resigning as CEO of Twitter

The billionaire said he will step down as soon as he finds a “fool” to replace him.

Billionaire Elon Musk has announced that he will step down as CEO of Twitter. According to a publication by the owner of Tesla on the social network, he will leave the post as soon as he finds someone to take the place.

“I’m going to step down as CEO as soon as I find someone foolish enough to take it! Then I’ll just run the software and server teams,” Musk said.

Before announcing, in fact, his intention to leave office, Musk had conducted a poll on his own account, asking his followers if they thought he should leave the chair and 57.5% of people voted “yes”.

remember the case

Elon Musk became the owner of Twitter in April 2022, for a value of US$ 44 billion, after a troubled period of negotiations with the network.

The purchase price represented a 38% premium to the company’s shareholders over Twitter’s closing share price on April 1, 2022, which was the last day of trading before Musk disclosed his approximately 9% stake in the platform. .

After closing the purchase agreement, the owner of Tesla began to make comments about freedom of expression on the network, stating that he hopes that “even the worst critics remain on Twitter, because that is what freedom of expression means” and that he will leave the network “more fun”.

Since then, Musk’s “reign” on Twitter has been the subject of social networks, in addition to generating criticism of the billionaire.

In November, about 50% of the company’s employees were fired and, on the day that the purchase of the network was confirmed, Musk fired the main executives of the social network, including the chief executive. According to news reports at the time, Musk expected to reduce the company’s costs by up to $1 billion with the shutdowns.

Tesla’s owner even spoke out about the mass layoffs, stating that “there is no choice when the company is losing more than $ 4 million a day”.