Elon Musk Wants to Name The Next Twitter CEO Before 2024

By the end of 2023, Elon Musk might be able to name his replacement as CEO of Twitter, but he first wants to "stabilize" his social media business, he said on Wednesday.

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At the World Government Summit in Dubai, Musk stated, "I think I need to stabilize the organization and basically make sure it's in a financially sound place and that the product path is clearly laid out.

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"I think it should be in a secure position by the end of this year, so I'm estimating maybe towards the end of this year should be a good time to find someone else to run the company."

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In October, as part of his $44 billion acquisition of the social media company, Musk assumed the role of CEO of Twitter.

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Late last year, the billionaire made it clear that he doesn't intend to serve as Twitter's CEO indefinitely and will eventually pass over control to someone else.

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Musk polled Twitter users in December on whether he should leave his position as Twitter's CEO. 17.5 million ballots, or the majority, were cast in favor.

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"As soon as I find someone naive enough to accept the position of CEO, I will step down! After that, I'll solely be in charge of the servers and software teams," Musk tweeted in response to the poll.

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Trade Algo reported that Musk was actively hunting for a replacement.

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He has had a difficult time at Twitter so far because of widespread personnel reductions and advertisers leaving or cutting back on their expenditures there.

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Investors at Musk's other company, Tesla, are worried that, at a time when the automaker is facing issues with demand and rising competition, Musk would be diverted by the happenings at Twitter. To finance his acquisition of Twitter, Musk traded off billions of dollars worth of Tesla stock.

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How  Did Musk Bought Twitter?

Musk discussed the decision to acquire rather than start his own social media firm.

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Musk remarked, "I considered building something from scratch, but I thought Twitter may speed progress relative to building something from scratch by three to five years." And, in my opinion, the past three to five years have seen such a remarkable acceleration in technology.

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Speaking about his reasons for the Twitter acquisition, Musk admitted that he was "a little concerned" about the trajectory and impact of social media, particularly Twitter.

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"I believed it was crucial for there to be a digital public square that could be optimally trusted, where individuals from different nations and throughout the world could speak with the least amount of restrictions permitted by law. It is obvious that depends much on the jurisdiction.

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His remarks are similar to those he has made in recent years. He describes himself as an "absolutist of free speech."

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Musk, however, claimed on Wednesday that social media firms "should adhere to the laws of other countries and not try to put a thumb on the scale beyond the laws of countries," accusing Twitter of imposing what he called a "niche ideology" — the "values" of San Francisco and the nearby University of California, Berkeley — on how it conducted business.

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Musk explained his reasons for purchasing Twitter by saying, "I believed it was vital, kind of, for the future of civilization to attempt to correct that thumb on the scale."

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Musk has been under fire for, on the one hand, supporting free expression but still abiding by censorship regulations in other nations. His statements demonstrate the narrow line he is attempting to walk.

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The most recent issue was sparked by a BBC documentary that criticized Narendra Modi, the Indian prime minister. Last month, the Indian government ordered Twitter and other social media platforms to remove links to and recordings of the documentary. According to Trade Algo, Twitter appeared to follow the court's instructions.

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In January, a user questioned whether it was true that Twitter followed instructions from the Indian government. Musk responded.

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"My first time hearing. I can't immediately repair every issue with Twitter across the board while also managing Tesla and SpaceX, among other things," Musk responded.