Will Quit After Finding 'foolish Enough' Person To Become Twitter CEO: Musk

Twitter's new owner has said he will resign as the social media giant's CEO as soon as he finds someone foolish enough to take the job, two days after millions of users voted for his ouster in a poll he ran online.

The 51-year-old billionaire promised earlier to abide by the result of a poll which saw 57.5 per cent of users vote "yes" to him quitting the role.

I will resign as CEO as soon as I find someone foolish enough to take the job. After that, I will just run the software and servers teams, Musk tweeted on Tuesday.

Musk added the tweet to his earlier post on Sunday in which he had asked in an online poll if he should step down as the Chief Executive Officer of .

I will abide by the results of this poll, he had said.

Over 17 million votes were cast in the poll that began on Sunday evening and ended early on Monday morning with most respondents voting in the affirmative, CNN reported.

Musk had not immediately reacted to the outcome of the vote and declared two days after the poll that he will resign as soon as he finds someone foolish enough to take the job.

He had tweeted on Sunday: "Should I step down as head of I will abide by the results of this poll".

As the saying goes, be careful what you wish, as you might get it, Musk added in a later tweet.

A total of 57.5 per cent voted "yes" after Musk asked his 122 million followers whether he should stand down.

In the past, Musk has obeyed Twitter polls. He's fond of quoting the phrase "vox populi, vox dei", a Latin phrase that roughly means "the voice of the people is the voice of God".

Since buying Twitter for USD 44 billion and taking over as the CEO in late October, Musk, who also runs Tesla and SpaceX, has journeyed from one controversy to the next.

Musk also announced on Twitter that major policy changes would be voted on moving forward.

The poll comes as Twitter says it will shut down accounts solely designed to promote other social media platforms.

The measure would also affect accounts that link off to or contain usernames from platforms such as Facebook, Instagram, Mastodon, Truth Social, Tribel, Nostr and Post, the company said in a tweet.

But cross-content posting from other sites will still be allowed. Twitter had already blocked users from sharing some links to Mastodon, the platform many Twitter users moved to after Musk's takeover.

But in a series of tweets on Sunday, Twitter said: "We recognise that many of our users are active on other social media platforms. However, we will no longer allow free promotion of certain social media platforms on Twitter.

"Specifically, we will remove accounts created solely for the purpose of promoting other social platforms and content that contains links or usernames for the following platforms: Facebook, Instagram, Mastodon, Truth Social, Tribel, Nostr and Post."

Musk's announcement was the latest in a series of decisions by Twitter to generate blowback, after the suspension last week of more than half a dozen journalists who report on Musk.

Musk immediately fired several top executives, including its Indian-American CEO Parag Agrawal, and laid off about half of Twitter's staff after he took over as head of the social media platform in October.

He then gave an ultimatum to the remaining staff that they need to do extremely hardcore work or leave, resulting in another thousand or so employees quitting the company.

Musk has started, stopped, and restarted a revised verification system that costs USD 8 for a blue check mark.

The billionaire's approach to content moderation has also been criticised, with some civil liberties groups accusing him of taking steps that will increase hate speech and misinformation.

On Friday, he reinstated a number of journalists he had suspended for allegedly sharing location data about him after the EU and UN called it an attack on press freedom.

Reporters for the New York Times, CNN, and the Washington Post were among those locked out of their accounts.

 

Big Oil stages strong comeback as Exxon’s valuation passes Tesla



The largest US oil company, ExxonMobil Corporation, has surpassed electric-vehicle giant Tesla in market value for the first time since 2020 as investors sell high-growth stocks and buy up value stocks in the energy sector.

Exxon shares have soared 75 per cent year-to-date, putting the energy giant on pace for its best ever annual performance, while Tesla’s stock has plummeted roughly 60 per cent over the same period, for its worst annual slump ever.

 

Tesla to freeze hiring, lay off employees next quarter

 

Meanwhile, another wave of layoffs are coming at Tesla in the next quarter, Electrek reported on Wednesday. Tesla is also going to freeze hiring as well. The company did not immediately respond to a Reuters request for comment. Agencies

Musk’s net worth falls to two-year low

Elon Musk’s fortune continues to take a beating a week after he lost his spot as the world’s richest person. His net worth tumbled $7.7 billion on Tuesday after Tesla shares had their steepest one-day loss since October.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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