Elon Musk proposes stepping down as head of Twitter in ballot

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Elon Musk could also be near ending his run as Twitter CEO.

After haphazardly establishing a ban on links out that put his website at odds with each The Washington Put up’s Taylor Lorenz and his personal supporters, like Silicon Valley enterprise capitalist Paul Graham, Elon Musk’s doxxing, banning, and moderation outburst ended — predictably — with an apology and a promise it “received’t occur once more.”

His $44 billion takeover of the company — that he tried desperately and unsuccessfully to get out of — began with a ballot, and it could be each acceptable and well timed if his time as its CEO ended the identical method.

Even earlier than Musk owned the corporate, there were reports that he deliberate to function as Twitter’s CEO solely quickly, and only one month in the past, he stated beneath oath that he planned to find someone else to run the company. In follow-up tweets, Musk claimed the corporate “has been within the quick lane to chapter since Might” (not the primary time he’s used the b-word in reference to Twitter, he mentioned it in a company meeting final month) and said, “The query is just not discovering a CEO, the query is discovering a CEO who can preserve Twitter alive.”

Now, together with his decision-making beneath fireplace from the identical individuals who had been his supporters and his handpicked #TwitterFiles journalist ghosting his pleas for a public response, Musk could also be able to put his overpriced toy in another person’s arms for a short time.

Unmentioned in his tweets, however looming over this week’s whole episode, is the truth that Tesla’s inventory worth has dropped to a 52-week low of about $150 per share, down almost 50 % from a yr in the past. Musk recently dropped to quantity two on Forbes’s listing of the world’s richest individuals.

Reuters reviews that Tesla’s third-largest particular person investor and self-proclaimed Musk fanboy KoGuan Leo tweeted earlier this week that “Elon deserted Tesla and Tesla has no working CEO.” Earlier this morning, Leo tweeted again, saying, “I want Elon shortly finds new CEO of Twitter.”

Musk has (principally) acted consistent with the outcomes of polls posted to his personal Twitter account in his time proudly owning the corporate, however the Musk Guidelines might be fluid. He also promised beforehand that “No main content material selections or account reinstatement” would occur with out convening a content material moderation council, then retroactively claimed that now not utilized attributable to activist teams that “broke the deal.”

The standing of Twitter’s new insurance policies, within the meantime, stays unclear — Lorenz is unbanned, and Musk stated Paul Graham’s account might be restored as effectively, whereas additionally claiming the hyperlink coverage “might be adjusted to suspending accounts solely when that account’s main function is promotion of rivals, which primarily falls beneath the no spam rule.”

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