Elon Musk, the world’s richest man, has announced his resignation as CEO of Twitter. Musk stated that he will resign after finding a replacement. According to a Bloomberg source familiar with the issue, he is aggressively seeking a replacement.
“I’ll step down as CEO as soon as I find someone stupid enough to accept the job! After that, I’ll only be in charge of the software and server teams “Musk took to Twitter.
Musk’s tweet was in response to an earlier poll in which he questioned if he should quit as CEO of Twitter. He also pledged to “abide by the findings” of the survey. According to the survey results, 57.5% of respondents support Musk stepping down.
Regardless of the outcome of the search, Musk will have to deal with mounting FTC concerns. According to persons familiar with the case who spoke to Bloomberg, the federal government is broadening its investigation into Twitter’s privacy and data security regulations as a result of Musk’s purchase.
Tesla stock has suffered, and Musk’s fortune has been depleted by his pursuit and acquisition of Twitter, dethroning him as the world’s richest man.
The US Federal Trade Commission broadened its inquiry into Twitter’s handling of user data on December 20, and Southern California police asked for information regarding a probable automobile attack involving a member of Elon Musk’s security detail. These events exacerbated Elon Musk’s problems with Twitter.
Twitter has been bleeding advertisers like water since the departure of more than half of its 7,500 workers and Musk’s alienation of some users with his rapidly changing moderation policy choices. According to a tweet from Musk earlier this week, the social network platform has been on the fast track to bankruptcy since May.