Elon Musk, a billionaire, predicted on Wednesday that Twitter would find a new CEO “probably by the end of this year.”
In a video message to the World Government Summit in Dubai, Musk stressed that maintaining the platform’s functionality remained his top priority.
When asked when he would name a CEO, Musk responded, “I think I need to stabilize the business and just make sure it’s in a financially sound place.” “I’m assuming that finding someone else to oversee the company would be smart, probably toward the end of this year.”
“Such an improvement over the other man! “wrote Musk, a frequent user of memes. Following the postings, the value of Dogecoin, a cryptocurrency built on the meme of a shiba inu, increased by about 5%. Musk has previously proposed that Twitter allow Dogecoin transactions.
Musk, 51, first became wealthy through the financial website PayPal, after which he founded the spaceship business SpaceX and invested in the electric vehicle manufacturer Tesla.
But in recent months, the commotion around his $44 billion acquisition of the microblogging platform Twitter has drawn greater attention.
Musk has been intermittently at the center of the conflict due to the Ukrainian military’s deployment of Starlink, Elon Musk’s satellite internet service, to protect itself against Russia’s ongoing assault.
In a 35-minute chat, Musk covered a wide range of topics, including the billionaire’s worries about artificial intelligence, the end of civilization, and the potential presence of extraterrestrial life.
But as Musk claimed that both Tesla and SpaceX could run without his direct, day-to-day involvement, concerns about Twitter continued popping up.
He claimed that Twitter is still, in some ways, a startup operating backward. Work is necessary to build the software engineering engine and get Twitter to a more stable position.
Musk has attempted to present his acquisition of San Francisco-based Twitter as a move toward cultural change.
Since taking over the business, he has given Donald Trump access to the platform again after the former president lost it after a pro-Trump mob invaded the United States. Senate on January 6, 2021. Rep. Marjorie Taylor Greene, a Republican from Georgia, was one of the individuals whose accounts Musk reinstated after they circulated false information about the coronavirus.
Musk stated, “I think that the main objective is to represent the people’s values as opposed to imposing the ideals of basically San Francisco and Berkeley, which are so kind of a niche ideology as contrasted to the rest of the globe. “And Twitter was, I believe, doing a bit too much to impose a niche.”
Mass layoffs and other cost-cutting measures have occurred due to Musk’s purchase of Twitter. Musk has been looking for ways to increase earnings at the business despite being responsible for approximately $1 billion in annual interest payments on his purchase.
However, some of Musk’s choices have run counter to why Twitter is used as an information-sharing medium by governments, journalists, and other groups.
Musk spoke about the necessity for users to rely on Twitter for reliable information from verified accounts on Wednesday.
However, several people impersonated well-known companies due to a confusing launch of a paid verified account system, which further withdrew the site’s much-needed advertising funds.
Twitter Chief Executive Elon Musk said that towards the end of 2023 would be 'good timing' to find someone else to run Twitter when he expects the social media platform to be stable https://t.co/XTiV3RAMy8 pic.twitter.com/0V7jSVZk2C
— Reuters (@Reuters) February 15, 2023