Musk discusses pros and cons of ‘should I step down from Twitter management’
57.5% expressed their intention to ‘yes’… The opposite is 42.5%
Musk “I will follow the results of the vote” interested in future actions
‘Should I step down from managing Twitter?’ An unprecedented situation occurred in which the majority of respondents voted in favor of the vote cast by CEO Elon Musk. Tesla stock, which had plummeted for a while due to Musk’s bizarre management moves, welcomed the news with a surge. The market’s attention is focused on whether Musk, who announced that he will “follow the survey results,” will actually step down from the management front.
According to the industry on the 19th, more than half of the total of 17,502,391 respondents in a vote asking “Should I step down from the Twitter head” held on Musk’s personal Twitter account for 12 hours from 6:20 pm the previous day to this morning, 57.5% expressed their intention to ‘yes’. The disapproval vote was only 42.5%.
Musk posted this poll and said, “I will follow the results of this vote.” But in reality, he has not given any specifics on when he will step down. However, in a reply to a Twitter user, he dismissed it as “there is no successor.”
Shares of Tesla, listed on the US Nasdaq, jumped 5.0% in pre-load trading on the day. Recently, among Tesla shareholders, complaints have been pouring out that Musk is neglecting Tesla’s management, his ‘main business’, after he bought Twitter last October.
During this period, Tesla’s share price fell by nearly 30%, and in the aftermath, Musk temporarily gave up his position as the world’s richest man to Louis Vuitton Moët Hennessy (LVMH) chairman Bernard Arnault, and was pushed to second place.
Interpretations follow that Musk, who was on the verge of a slope due to the decline in stock prices following the management difficulties, committed additional eccentricities.
The Wall Street Journal (WSJ), an American daily, reported that “Musk is seeking a final twist after a turbulent period after acquiring Twitter.” The WSJ interpreted that Musk’s move is not irrelevant to the various difficulties he is currently facing, such as debt and management difficulties he has taken over Twitter.
Previously, Musk mentioned in relation to Twitter management, “You have to invest your life’s savings in Twitter, and Twitter is on a shortcut to bankruptcy after May.”
Kim Eun-ji, Hankyung.com reporter eunin11@hankyung.com