Though there’s still work to do, Musk thinks he will eventually leave Twitter’s leadership in other hands.
The notorious new “Chief Twit,” Elon Musk, may not be so for much longer.
After buying Twitter and installing himself as its CEO late last month, the billionaire has revealed plans to leave the management of the firm to another person.
Elon is Busy
Speaking at B20 Indonesia 2022 on Monday, Musk said he was feeling overworked ever since taking charge of the social media platform.
“I’m really working at the absolute most amount that I can work from morning until night, seven days a week,” he said. “This is not something I would recommend, frankly.”
After assuming company control, Musk immediately fired Twitter’s board of directors alongside thousands of staff members. He’s since sarted implementing sweeping changes across the platform, including paid profile verification for $8 per month through Twitter Blue.
“I expect to reduce my time at Twitter and find somebody else to run Twitter over time,” he added during a Delaware trial while testifying on his Tesla compensation package, according to the Wall Street Journal.
The billionaire added that a “fundamental restructuring” of Twitter will soon be complete. His stated goals are to help make the platform a haven for free speech and open political dialogue while ridding it of overabundant spam bots.
Data shared by Musk on Monday showed that Twitter’s daily active users have consistently climbed since late September, which is roughly when the tech mogul agreed to buy the company again.
On Wednesday, Musk agreed with a Twitter user who said that the platform was on the road to bankruptcy before the new CEO began making company changes, which are taking it towards “sustainable profitability.”
“People have no idea how fast Twitter will evolve,” he added.
Musk and Sam Bankman-Fried
Numerous crypto community figureheads approached Musk with ideas for how to improve Twitter leading up to his acquisition. One such leader was Sam Bankman-Fried – former CEO of the now-bankrupt crypto exchange FTX.
After a half-hour-long conversation with the former billionaire, Musk said he had suspicions about Bankman-Fried’s true character during a Twitter space this weekend.
“Everyone was talking about him like he’s walking on water and has a zillion dollars… that was not my impression,” he said. “He does not have capital and he will not come through. That was my prediction.”