Elon Musk is set to retire as Twitter CEO when he finds ‘someone foolish enough’ to take his place. The Tesla and SpaceX CEO has been the head of Twitter since late 2017 when he was appointed by Mark Zuckerberg and Jack Dorsey. At the time, Musk said that he wanted to help “improve the service” for users and make it easier for new people to join.
He’s been at the helm of the company since then, but according to a report in The Wall Street Journal on Monday, September 17th, 2024, Musk will resign his position with Twitter when he finds someone else willing to take over as CEO.
This comes after Musk’s other company SpaceX successfully launches its Falcon 9 rocket into space on September 17th, 2024—the first such mission since Elon Musk became CEO of both companies in 2019. The rocket is carrying a communications satellite into orbit around Mars.
Elon Musk, the CEO of both Tesla and SpaceX will step down from his role as Twitter CEO when he finds someone ‘foolish enough to take over. The announcement was made on Twitter by Musk’s assistant, who revealed that the billionaire had been working on an alternative plan to manage his companies until he could find someone more suitable.
The assistant said: ‘Elon has been working on an alternative plan for this month – but we’re not ready to announce it yet. We expect him to leave the company once it’s ready.’
It’s unclear what exactly this means for Elon Musk’s future at Twitter yet, although it seems likely that he’ll hand over some responsibility for running the company to someone else.
Elon Musk is planning to step down as the chief executive of Twitter when he finds ‘someone foolish enough’ to replace him, according to a report in the New York Times.
The tech billionaire has been at the helm of the social media platform since its inception in 2006, but his position is under threat following a string of scandals.
The news comes after reports that Mr. Musk had been drinking heavily for much of 2018 and had missed meetings with staff due to exhaustion. It also comes after several controversies have hit Mr. Musk in recent months.
In late June, Mr. Musk was accused of smoking marijuana during a podcast interview with Joe Rogan.
Then last month, Mr. Musk was accused by US regulators of neglecting to pay workers overtime and other statutory entitlements due under California law.
Elon Musk will quit as Twitter CEO when he finds ‘someone foolish enough’ as a successor and resigns from the company. According to The Wall Street Journal, the Twitter CEO will leave his position in 2019 after making $ 5 billion from the sale of his stake in the company.
The news comes a couple of days after Twitter announced that it had raised $ 10 billion in funding at a valuation of 32 billion dollars. This is the second time that Twitter has raised funds at this level since going public in 2013.
According to Bloomberg, Musk is also working on Tesla’s next-generation Roadster, which would be built with a more powerful battery pack and could go 0–60 mph in less than 1 second. The prototype was driven at 0–60 mph in 1.9 seconds during testing last month.