Twitter CEO Elon Musk on Wednesday said he expects to have a new person in place to lead the social media company by the end of 2023, nearly two months after Twitter users voted in favor of him stepping down in a poll shared by the billionaire.
Musk said he wants to first “stabilize the organization” and ensure it is financially healthy before handing over the reins, he told the World Government Summit in Dubai through a video call.
Sometime around the “end of this year” would be “good timing” for a new CEO to take charge, the billionaire said.
Musk described Twitter’s current state as “somewhat a startup in reverse,” adding that a lot of work was needed to get the company into a stable position.
He added his goal is to ensure the social platform enables speech with the “least amount of censorship allowed by law… [which] varies a lot by jurisdiction.”
The Twitter CEO said social media companies should “adhere to the laws of countries” and not “try to put a thumb on the scale beyond the laws of countries.”
According to our estimates, Musk’s current net worth stands at $196.5 billion, making him the world’s second richest person. After a major slump at the end of last year, Musk’s wealth has surged once again as Tesla’s stocks are up more than 93% since the start of 2023.
In December, Musk shared a poll asking Twitter users if he should step down as CEO, amid backlash about a series of rule changes implemented by the platform. Musk vowed to abide by the results of the poll and 57.5% had voted in favor of him stepping down. After the poll ended, Musk and his followers first claimed the results had been manipulated by bots—an allegation that the billionaire has used when poll results don’t favor his point of view. A day later, Musk said he will resign as CEO as soon as he finds “someone foolish enough to take the job,” after which he will “run the software & servers teams.”
Elon Musk Says He Will Step Down As Twitter CEO—After He Finds ‘Someone Foolish Enough’ To Take Over (Forbes)
Musk Asked Twitter Users If He Should Step Down As CEO—Most Voters Said ‘Yes’ (Forbes)