In a shocking turn of events, Elon Musk says that he will step down as the head of Twitter. In an online Twitter poll, Musk asked his 122 million followers if he should step down as the head of Twitter, and that he would abide by the results of the poll. Well, the poll is now closed and the results are in! 17,502,391 votes were cast with 57% stating that Elon should step down. 43% said that he should stay on as the head of Twitter. So, will Elon really step down as the head of Twitter?
The answer is very likely, yes! Musk isn’t in the habit of making idle threats, but the real question is why would he leave so soon after taking control of Twitter? The answer (in my opinion), is that he has other businesses that also need his attention. Tesla and SpaceX investors are worried that he might be spending too much time at Twitter. They’re also looking for him to get back to the business of space and electric vehicles. So, Elon was likely going to exit his leadership role at Twitter (anyway) and will most assuredly name his successor in short order. Investors will be relieved and much happier when he returns to his core businesses. Tesla has lost a ton of market cap in the last year and it will be up to Elon to continue Tesla’s growth trajectory.
Who will run Twitter is anyone’s guess, but the qualifications are simple. They must keep an eye on the bottom line as Musk will not tolerate losing money. They’ll also need to be a protector of free speech. This was the whole reason he purchased the company in the first place. Anyone who cannot protect (and enforce) these basic principles will not be placed at the top of the organization. And, even though he may not be in the daily management of the organization, he still retains profit and loss responsibility. While he may not hold the title of CEO, users can feel comfortable that Musk remains very much in control of the company. He will definitely be watching the bottom line as well as feedback from his most followed users.