Musk: New Twitter CEO by end of year
DUBAI, United Arab Emirates – Billionaire Elon Musk said Wednesday that he anticipates finding a CEO for Twitter “probably toward the end of this year.”
Speaking via a video call to the World Government Summit in Dubai, Musk said making sure the platform can function remained the most important thing for him.
“I think I need to stabilize the organization and just make sure it’s in a financial healthy place,” Musk said when asked about when he’d name a CEO. “I’m guessing probably toward the end of this year would be good timing to find someone else to run the company.”
It remains unclear how seriously Musk will take that timeline. His comment came only hours after he posted images of his shiba inu dog, Floki, on Twitter as the company’s “CEO.”
“So much better than that other guy!” wrote Musk, who often posts memes. After making the posts, a cryptocurrency known as Dogecoin, based around the image of a shiba inu meme, rose in value by around 5%. Musk previously has suggested Twitter accept Dogecoin in transactions.
Musk, 51, made his wealth initially on the finance website Paypal, then created the spacecraft company Spacex and invested in the electric car company
Tesla. In recent months, however, more attention has been focused on the chaos surrounding his $44 billion purchase of the microblogging site Twitter.
Meanwhile, the Ukrainian military’s use of Musk’s satellite internet service Starlink as it defends itself against Russia’s ongoing invasion has put Musk off and on at the center of the war.
Musk offered a wide-ranging 35minute discussion that touched on the billionaire’s fears about artificial intelligence, the collapse of civilization and the possibility of space aliens. But questions about Twitter kept coming back up as Musk described both Tesla and Spacex as able to function without his direct, day-to-day involvement.
“Twitter is still somewhat a startup in reverse,” he said. “There’s work required here to get Twitter to sort of a stable position and to really build the engine of software engineering.”
Musk also sought to portray his takeover of San Francisco-based Twitter as a cultural correction. Since taking over the company, he’s restored Donald Trump’s access to the platform after the then-president lost access to the website after a pro-trump mob attacked the U.S. Capitol on Jan. 6, 2021. Musk also reinstated the accounts of several people who spread misinformation about the coronavirus.
“I think that the general idea is just to reflect the values of the people as opposed to imposing the values of essentially San Francisco and Berkeley, which are so somewhat of a niche ideology as compared to the rest of the world,” Musk said. “And, you know, Twitter was, I think, doing a little too much to impose a niche.”
Musk’s takeover at Twitter has seen mass firings and other cost-cutting measures. Musk, who is on the hook for about $1billion in yearly interest payments for his purchase, has been trying to find way to maximize profits at the company.
“Twitter is certainly quite the rollercoaster,” Musk acknowledged.