The world’s second-richest man has announced his resignation as the chief executive officer at Twitter.
Elon Musk left his fate to users on the social media platform in which 10 million voted for his resignation.
Over 17.6 million users responded to the poll, which asked whether he should quit as the head of Twitter—a role he has held for two months.
Once the results were in, Musk said he will step down once he finds “someone foolish enough” to take on the position.
“After that, I will just run the software and servers teams,” he said.
The multi-billionaire bought the company for $US44 billion. However, he has made several controversial decisions since he took over, including laying off half of Twitter’s existing staff; and policies around hate speech.
Dan Ives is the managing director at Wedbush Securities, who said the poll ends a nightmare situation on the platform.
“From the botched verification subscription plan to banning journalists to political firestorms caused on a daily basis, it’s been the perfect storm as advertisers have run for the hills and left Twitter squarely in the red.”
Musk’s Twitter takeover also led to sharp impacts for the carmaker, Tesla, which has he run since 2003.
“Attention focused on Twitter instead of golden child Tesla has been another big issue for investors and likely is behind this poll results with many Musk loyalists wanting him to leave as CEO of Twitter,” Mr Ives said.
Musk has sold millions in Tesla stock since he took the reigns of Twitter.
This will “be a major positive for Tesla’s stock starting to slowly remove this albatross from the story,” according to Mr Ives.
He believes it signals “Musk finally reading the room that has been growing frustration around this Twitter nightmare that grows worse by the day.”
