On Sunday, Elon Musk posted a poll on Twitter asking users if he should step down as CEO, vowing to “abide by the results.” The majority of 17.5 million voted he should no longer head the company. Will he keep his promise?
Amid controversial tenure: Elon Musk asks Twitter users if he should step down
Even before Elon Musk purchased Twitter, he had a veritable army of detractors, including a number of celebrities who vowed to leave the platform if he purchased the company.
Following Musk’s Twitter takeover at the end of October, there have been weeks of criticism about the way he has commanded the social media platform.
The first controversy was over the “verification status” or “blue-tick or checkmark,” as Musk floated various price points.
In early November, Musk announced massive layoffs that resulted in around half the workforce leaving, the Daily Mail reported.
In mid-November, Musk warned workers to step up and be prepared for a “hard-core” new work regime.
In late November, Musk removed the ban on numerous people in the name of restoring free speech.
In early December, Musk released a trove of files documenting alleged bias at the company before his takeover.
On December 12, Musk relaunched the Twitter Blue subscription, allowing users to pay $8 a month for “verified” status.
Then on December 18, seemingly out of nowhere, Musk suddenly asked Twitter users if he should step down as CEO.
Poll results: Majority of Twitter users say “YES,” Musk should resign as CEO
Elon Musk on Sunday posted a poll on his Twitter account asking users the following:
“Should I step down as head of Twitter? I will abide by the results of this poll.”
When the final results were in, 17,502,391 people had voted, with 57.5% answering “YES” and 42.5% voting “NO.”
Now, the Twitter world awaits Musk’s statement on whether he will truly “abide by the results of this poll” as promised and step down as CEO.
Some are wondering if his sudden decision to ask users if he should step down as Twitter CEO comes as he is also being questioned about his ability to command his EV company Tesla, which is also floundering. Shareholders have been voicing concerns that the social media platform is distracting Musk’s attention and ability to properly focus on the motor vehicle company.
Tesla’s third-biggest shareholder wants Musk to step down as CEO of EV vehicle company
Twitter isn’t the only company where Musk is receiving calls for him to turn the reins over to someone else. A similar call is coming from shareholders of Tesla for Musk to resign as CEO of the electric vehicle company.
Last week, KoGuan Leo, an Indonesian billionaire who holds $3.4 billion worth of Tesla shares and is the third-largest individual shareholder of the company, called for Musk to step down, the Observer reported.
“Elon abandoned Tesla and Tesla has no working CEO,” KoGuan Leo said. “Tesla needs and deserves to have working full-time CEO.”
“Tesla is 19 years old, ranked 4th with 2.4 percent allocation in S&P,” Leo wrote in another tweet. “Elon was the proud father, Tesla has grown up. An executioner, Tim Cook-like is needed, not Elon.”
Tesla shares are down about 20% in December so far and roughly 55% year-to-date, Yahoo reported.
Last week, Musk sold another 22 million shares of Tesla, raising $3.6 billion, according to a disclosure in an SEC filing late Wednesday, CNN reported. Musk did not disclose the reason for the sales in the filing.
