In a backlash against the billionaire, Twitter users voted in a poll for Elon Musk to resign as the social media platform’s chief executive less than two months after he took over.
According to the poll that the billionaire launched on Sunday evening, approximately 57.5 percent of votes were cast in favor of the idea of Musk stepping down as the head of Twitter, while 42.5 percent of votes were cast in opposition. The vote was cast by more than 17.5 million people.
Should I step down as head of Twitter? I will abide by the results of this poll.
— Elon Musk (@elonmusk) December 18, 2022
On Sunday, Musk stated that he would adhere to the poll’s findings, but he did not specify when he would step down if the findings indicated that he should.
In premarket trading, shares of Tesla Inc., the electric car company Musk runs, were up about 5%.
Musk, who earlier this month lost his title as the richest person in the world, also started the tunneling company Boring Company, backs the medical device company Neuralink, and runs the rocket company SpaceX. Tesla investors have been concerned that Musk has been spreading himself too thin since the Twitter deal.
As a result of supply chain issues and growing competition in the EV market, Tesla shares have already lost nearly 60% of their value this year.
Wedbush analyst Dan Ives wrote in a note, “It appears Musk’s reign as CEO of Twitter will come to an end and thus be a major positive for Tesla’s stock, starting to slowly remove this albatross from the story.”
Tesla is Musk, and Musk is Tesla.
Tesla is one of the best automakers in the world, producing approximately one million vehicles annually. In any case, ongoing calculated difficulties, pandemic-related lockdowns in China, higher getting costs and a dull standpoint for worldwide financial development have raised concerns.
Musk told a Delaware court last month that he would cut back on his time working for Twitter and eventually hire a new CEO.
On Sunday, Musk stated, “There is no successor” in response to a Twitter comment regarding a possible CEO change.
On Monday, “Elon,” “CEO of Twitter,” “vote Yes,” and “vote No” were among the most talked-about topics on Twitter.
The poll follows Twitter’s Sunday policy update, which prohibited content with links or usernames for rival platforms and accounts created solely for the purpose of promoting other social media companies.
