Elon Musk to Step Down as Twitter CEO Following Poll Results

Elon Musk, CEO of both Tesla and Twitter, has announced that he will step down as Twitter CEO following a poll in which 57.5% of voters called for his resignation. The poll, which saw over 17.5 million people participate, ended on Monday, with Musk stating that he would abide by the results. Musk had only taken over as Twitter CEO two months ago, after purchasing the company for $44 billion. Since then, he has implemented significant changes, including firing thousands of employees.

Musk's departure from Twitter has been welcomed by some Tesla investors, who have been concerned about the impact of his Twitter deal on the electric car company. Tesla's stock has dropped nearly 60% in value this year due to supply chain issues and increased competition in the electric vehicle market. Wedbush analyst Dan Ives stated that Musk's departure from Twitter "would be a major positive for Tesla stock," as "Musk is Tesla and Tesla is Musk."

However, it is not clear when Musk will step down as Twitter CEO. In a recent court case in Delaware, he stated that he would reduce his time at the company and eventually find a new leader to take over. In response to a comment about a potential change in CEO, Musk simply stated, "No successor yet."

In addition to his roles at Tesla and Twitter, Musk is also the founder of tunneling company Boring Company, a backer of medical-device company Neuralink, and the leader of rocket company SpaceX. Despite facing logistical challenges and the impact of the coronavirus pandemic, Tesla remains one of the top automakers in the world, delivering approximately one million vehicles annually.