A majority of Twitter users polled by Elon Musk voted in favor of his departure as CEO of the social media firm, after the billionaire and Twitter faced significant backlash over recent rule changes and the banning of prominent journalists on the platform.
Highlights
- More than 17.5 million users voted on the poll of M. Muskwhose results he promised to respect, which closed early Monday with more than 57.5% of respondents calling for him to step down as CEO.
- Before sharing the poll, Musk announced that Twitter users will now have the opportunity to vote on all major policy changes to the platform, while apologizing for Twitter’s latest controversial move that banned users to post links to other social media sites, including Facebook, Instagram, Mastodon and many others.
- This change in policy, which triggered the reaction of the co-founder of Twitter, Jack Dorseyseems to have been cancelled.
- In keeping with Musk’s pledge, the official @twittersafety account asks users if the platform should continue the policy of banning links to competing social media sites.
- With more than 180,000 votes, more than 86% of respondents are opposed to this policy.
weft
Musk’s Twitter poll comes as several investors from Tesla have questioned his commitment to the electric vehicle company.
Tangent
The value of Tesla shares has fallen more than 51% in the past three months and 33% since Musk took over Twitter in late October. One of the most public reactions to the Tesla CEO came from billionaire Leo Koguan, who calls himself a “fanboy” of Elon Musk and claims to be the third largest Tesla investor in the world. Last week Mr Koguan tweeted that Mr Musk had ‘dropped Tesla’ and that the electric car maker had ‘no active CEO’, while hinting that the company’s board should try to replace Mr. Musk with a “full-time active CEO”. Leo Koguan appeared to soften his stance slightly on Sunday, saying he wanted Musk to stay on as CEO of Tesla and find someone else to take the reins of Twitter. Over the past 12 months, Musk has sold nearly $40 billion worth of Tesla stock, including $7.5 billion since his acquisition of Twitter.
interesting quote
The managing partner of the Future Fund, Gary Black, who is a Tesla fanatic, tweeted: “I have to believe that the outside directors of Tesla are pressuring Elon to step down as CEO of Twitter. It’s hard to ignore the numbers since the Twitter operation closed on October 27.
Forbes Rating
According to our estimates, Musk’s net worth stands at $163.7 billion, which is a steep drop from the peak of $320 billion reached in November 2021, largely due to the poor performance of Tesla stock. Last week, Musk relinquished the title to richest person in the world to Bernard Arnault, CEO of luxury goods conglomerate LVMH – and the gap between their wealth has grown steadily.
Article translated from Forbes US – Author: Siladitya Ray
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