Elon Musk’s tenure as CEO of Twitter could soon be coming to an end. Musk’s role as Chief Twit, which was put to a vote, closed overnight with roughly 58 per cent of the nearly 18 million votes suggesting he should resign, while 42 per cent think Musk shouldn’t be considering stepping down.
It’s unknown how many of those votes came from Tesla shareholders, Elon Musk’s electric car company, whose stock price has fallen to a 52-week low of roughly $150 per share, or about 50% from one year ago. In the most current Forbes ranking of the world’s richest people, Musk slid to number two. On the news of the poll findings, Tesla is currently up roughly 5% in premarket trading.
According to a Reuters report, KoGuan Leo, Tesla’s third-largest individual investor, tweeted earlier this week that “Elon abandoned Tesla and Tesla has no operational CEO.” Leo tweeted once earlier this morning with the message, “I wish Elon soon finds new CEO of Twitter.”
It would be appropriate and timely if his tenure as the company’s CEO ended with a poll, just as his $44 billion buyout of the company—which he sought desperately and failed to get out of—did.
There were rumours that Musk only intended to serve as Twitter’s CEO briefly before he acquired the business, and just one month ago, he admitted as much while being sworn in. Musk also stated that he intended to find someone else to lead the organization. In subsequent tweets, Musk asserted that the company “has been in the fast lane to bankruptcy since May” (not the first time he’s referred to Twitter as “going bankrupt”; he brought it up in a company meeting last month) and said, “The question is not finding a CEO, the question is finding a CEO who can keep Twitter alive.”
Now that his choices are being criticized by his former supporters and his hand-selected #TwitterFiles journalist is ignoring his requests for a public response, Musk might be prepared to temporarily hand over control of his overpriced toy.
In his time owning the company, Musk has (usually) operated in accordance with polling data shared on his own Twitter account, but the Musk Rules can change. Additionally, he had earlier stated that “no big content decisions” or “account reinstatements” would take place without the appointment of a content moderation committee, but later claimed that no longer held true because activist groups had “broken the arrangement” with him.
Musk’s doxing, banning, and moderation outburst ended — predictably — with an apology and a promise it “won’t happen again” after haphazardly enacting a ban on links to specific social platforms that put his site at odds with The Washington Post’s Taylor Lorenz and his own supporters, like Silicon Valley venture capitalist Paul Graham. Musk only requires a little bit more focus from his captive audience in exchange for the assurance that votes regarding “important policy changes” will be held in the future.
While Lorenz has been unbanned and Musk has stated Graham’s account will be restored, the status of Twitter’s new policies is still unknown. Musk also stated that the link policy “will be adjusted to suspending accounts only when that account’s primary purpose is the promotion of competitors, which essentially falls under the no spam rule.”