Elon Musk says will step down as Twitter CEO after finding successor

Elon Musk said that he will resign as CEO of Twitter CEO as soon as a successor is found

Elon Musk on Wednesday said that he will resign as CEO of Twitter CEO as soon as a successor is found. In a tweet, Musk said, "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 & servers teams."

On Monday, Musk held a poll on Twitter asking whether he should step down as chief executive officer of Twitter Inc. He wrote, "Should I step down as head of Twitter? I will abide by the results of this poll." In the results of the poll, 57.5 per cent of people voted yes. Only 43 per cent of followers want Musk as Twitter CEO. 

Musk is actively looking for a replacement for his post, CNBC reported on Tuesday, citing sources.

Replying to a tweet, Musk said on Monday, "No one wants the job who can actually keep Twitter alive. There is no successor." Musk had said last month that he does not want to be the CEO of any company, be it Tesla or Twitter. 

Musk's announcement also came at the time when a Bloomberg report showed that the Tesla and SpaceX CEO's net worth on Tuesday tumbled $7.7 billion. The Twitter CEO has lost $122.6 billion this year, which is more than what he gained in 2021 when his wealth rose to rank among the biggest in history. Musk's net worth is now $147.7 billion, the lowest in more than two years, according to the Bloomberg Billionaires Index.

The billionaire is currently facing a myriad of issues ranging from banning journalists and other social media platforms amid Tesla stock nosediving. 

The Tesla CEO is also pushing to get more investors for Twitter at the original $54.20 per share price, at which he acquired the company for $44 billion.

(With agencies inputs)