Elon Musk isn’t serious about giving power to a new CEO


Elon Musk said Tuesday that he’ll still be in charge of Twitter’s software and server teams after he resigns his CEO seat to “someone foolish enough to take” it. He broke the news in a response to a poll he ran earlier this week, where around 58 percent of respondents said that he should step down as CEO.
Given that the social networking site is mainly made up of software and servers (especially after the massive layoffs), it’s clear Musk will still have direct control over the company, even if he doesn’t have the explicit CEO title. That’s not necessarily a surprise; Musk has de-facto control over product at most of his companies, and he’s still Twitter’s owner at the end of the day. But the announcement likely means disappointment for anyone hoping that him stepping down as CEO would bring an end to Twitter’s wild rollercoaster ride.
While Musk has indicated that he’s mainly interested in the Twitter users that are willing to pay him for the service, there are another group of people he has to satisfy: Tesla shareholders. The company’s share price has been tumbling since Musk bought Twitter, dropping almost $100 in value since November 1st, down to around $137 when markets closed on Tuesday.
Musk has, several times, blamed the drop on interest rates making saving more appealing than investing, but some Tesla shareholders have raised concerns about the company’s engineers going to work at Twitter and how Musk’s antics at Twitter reflect on his other companies. “The only problem is the optics of having the CEO on Twitter every day discussing the problems of Hunter Biden,” said Ross Gerber, a head of a firm invested in Tesla, according to Business Insider. Musk has also sold billions in Tesla stock since he promised to stop doing that this spring (and again in the summer). It seems likely that some of the money from the Tesla selloff went to help prop up Twitter.
Unfortunately for Tesla shareholders — a group that involves Musk, whose shares once made him the world’s richest man until the stock price slip cost him that title — it doesn’t seem like Musk intends on stepping away from Twitter any time soon. Sure, whoever he gets as CEO may be tasked with trying to corral advertisers and policymakers, both of which have been suspiciously eyeing Twitter’s new management. But when it comes to the Twitter that people are actually using, it sounds like Elon will still be Chief Twit.
Elon Musk said Tuesday that he’ll still be in charge of Twitter’s software and server teams after he resigns his CEO seat to “someone foolish enough to take” it. He broke the news in a response to a poll he ran earlier this week, where around 58 percent of respondents…
Recent Posts
- Elon Musk says Grok 2 is going open source as he rolls out Grok 3 for Premium+ X subscribers only
- FTC Chair praises Justice Thomas as ‘the most important judge of the last 100 years’ for Black History Month
- HP acquires Humane AI assets and the AI pin will suffer a humane death
- HP acquires Humane AI assets and the AI pin may suffer a humane death
- HP acquires Humane Ai and gives the AI pin a humane death
Archives
- February 2025
- January 2025
- December 2024
- November 2024
- October 2024
- September 2024
- August 2024
- July 2024
- June 2024
- May 2024
- April 2024
- March 2024
- February 2024
- January 2024
- December 2023
- November 2023
- October 2023
- September 2023
- August 2023
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- March 2020
- February 2020
- January 2020
- December 2019
- November 2019
- September 2018
- October 2017
- December 2011
- August 2010