Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Metaverse News

Twitter CEO Elon Musk Asks If He Should Step Down

Twitter users voted in favor of Elon Musk resigning as the platform’s CEO after the billionaire conducted a poll on his future. Mr. Musk asked his 122 million followers whether he should step down, and 57.5% voted “yes.”

Before the poll closed, Mr. Musk, who purchased Twitter for $44 billion (£36 billion), stated that he would accept the outcome.

Since taking over the site, the technology tycoon, who also runs Tesla and Space X, has received a great deal of criticism. Mr. Musk has not commented since the poll’s conclusion. Even if he were to resign as CEO, he would retain ownership of Twitter.

On Monday, more than 17.5 million users participated in his poll, with 42.5% voting against Mr. Musk’s resignation. Mr. Musk has previously responded to Twitter polls. He frequently quotes the Latin phrase “vox populi, vox dei,” which roughly translates as “the voice of the people is the voice of God.”

A former Twitter employee who just departed the company told that Mr. Musk was proving to be the useless fool we all knew he was.

Speaking on condition of anonymity, they added: “His investors are surely looking at this now and questioning whether he was the right horse to back.

“I imagine he’s getting pressure from investors to step down and is using this poll to make it look like he’s following the will of the people instead of the will of those paying his bills.”

Minutes before the voting closed, the founder of the crypto exchange Binance responded to Mr. Musk by suggesting he “stay the course” and not resign. Changpeng Zhao is said to be one of several Twitter investors and stated in May that he supported Elon Musk’s takeover by investing $500 million.

Massive corporations such as Fidelity, which is known for managing retirement funds, and Sequoia Capital, which has supported Apple, Google, and Airbnb, are among the supporters.

Larry Ellison, Oracle co-founder and Mr. Musk’s pal, the sovereign wealth fund Qatar Holdings, and Prince Alwaleed bin Talal of Saudi Arabia are all suspected. Mr. Musk’s private jet appears to be returning from the World Cup final in Qatar, where he was seen alongside Jared Kushner, Donald Trump’s son-in-law, on Sunday.

Before the poll ended, Dan Ives, senior equities analyst at Wedbush Securities, told that he anticipated the vote would ultimately lead to the end of Mr. Musk’s reign as Twitter CEO and that he would likely designate a new temporary CEO “in the next 24 hours.”

He has fired around half of the company’s employees and halted the implementation of Twitter’s paid-for verification function. Last week, the function was relaunched.

His approach to content moderation has also been criticized, with some civil liberties groups accusing him of taking measures that will increase hate speech and misinformation.

Friday, the United Nations and the European Union condemned Mr. Musk for Twitter’s decision to suspend some journalists covering the social media company.

The United Nations tweeted that media freedom is “not a toy,” whereas the European Union threatened Twitter with sanctions.

Earlier on Sunday, Twitter said it will take down accounts exclusively aimed to promote rival social media services.

However, Mr Musk then tweeted that major policy changes for the site would be voted on in the future. The web page describing the policies towards other social media networks appears to no longer exist.

Latest metaverse news and tutorials right at your inbox, every Monday

IMPORTANT DISCLAIMER: All content provided on this website, any hyperlinked sites, social media accounts and other platforms is for general information only and has been procured from third party sources. We make no warranties of any kind regarding this content. None of the content should be interpreted as financial, legal, or other advice meant to be relied on for any purpose. Any use or reliance on this content is done at your own risk and discretion. It is your responsibility to conduct research, review, analyze, and verify the content before relying on it.

About Tina

Twitter CEO Elon Musk Asks If He Should Step DownTina concentrates on all matters related to NFT and Web3. Tina uses social media to spot NFT trends and report unique news.

Recommended Posts