Elon Musk has said he will abide by the results of his poll and resign as Twitter CEO, but only after he can find someone “foolish” enough to replace him.
Musk tweeted his plans on Tuesday following a poll in which he asked the Twitterverse whether he should step down from his role leading the social media company. The poll accumulated more than 17.5 million votes, and nearly 58% voted ‘yes.’
When Musk posted the poll he said he would abide by the results, but on Tuesday said he will not be leaving the company entirely. After he can find a CEO to replace him, Musk said he will stay on to lead the software and server teams.
I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams.
— Elon Musk (@elonmusk) December 21, 2022
Part of the reason Musk posted the original poll was due to criticism, largely from Tesla (TSLA) investors, who were questioning whether his focus on running his new $44 billion social media company was at the detriment to properly running his electric car company.
One of those investors was long-time Tesla bull Ross Gerber, who commented on Twitter that the TSLA share price “reflects the value of having no CEO.” The tweet drew a response from Musk who said the real reason TSLA share prices had dropped was due to rising interest rates.
A lot of Twitter users, including another Tesla bull Gary Black, noted that Tesla was down nearly 40% since Musk acquired Twitter, compared to the NASDAQ exchange which is down just 1% in the same time period.
Elon – you can’t compare a very short duration bank account with long duration $TSLA stock. The proper compare is the 10yrTY, which has dropped from 3.92% to 3.65% today. Since you closed on TWTR, TSLA -38% vs NDX -1%. If it was all int rates, NDX would be down a similar amount.
— Gary Black (@garyblack00) December 20, 2022