Musk Says He Wants To ‘Stabilize’ Twitter Before Finding A New CEO By The End Of 2023
Topline
Twitter CEO Elon Musk on Wednesday said he expects to have a new person in place to lead the social media company by the end of 2023, a statement which comes nearly two months after Twitter users voted in favor of him stepping down in a poll shared by the billionaire.
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FILE PHOTO: Dubai Media Office Handout image of Mohammed al-Karkavi (L), UAE Minister of Cabinet Affairs and Elon Musk (R), CEO of Twitter and founder of Tesla and SpaceX, at the World Government Summit. Anadolu Agency via Getty Images
Key Facts
Addressing the World Government Summit in Dubai through a video call, Musk said he wants to first “stabilize the organization” and ensure that it is financially healthy before handing over the reins.
Without offering an exact timeline, Musk said sometime around the “end of this year” would be “good timing” for a new CEO to take charge.
Commenting on the state of Twitter’s current state the billionaire said it was “somewhat a startup in reverse” adding that a lot of work was needed to get the company into a stable position.
Musk was more guarded in his comments about free speech saying his goal is to ensure the social platform enables speech with the “least amount of censorship allowed by law… [which] varies a lot by jurisdiction.”
The Twitter CEO added that social media companies should “adhere to the laws of countries” and not “try to put a thumb on the scale beyond the laws of countries.”
Forbes Valuation
According to our estimates, Musk’s current net worth stands at $196.5 billion, making him the world’s second richest person. After a major slump at the end of last year, Musk’s wealth has surged once again as Tesla’s stocks are up more than 93% since the start of 2023.
