Twitter users voted for Elon Musk to step down from his role as head of the social platform in a poll the billionaire entrepreneur said he would respect, potentially leaving the company devoid of senior leadership.
A total of 57.5% voted “yes” after Mr Elon Musk asked Twitter’s 122 million followers whether he should stand down. Mr Musk, who bought Twitter for $44bn, said before the poll closed that he would abide by the result.
The technology tycoon, who also runs Space X and Tesla, has faced a lot of criticism since taking over the site. Even if Mr Musk decides to resign as chief executive, he would remain as Twitter’s owner.
More than 17.5 million users voted in his poll on Monday, with 42.5% voting no to Mr Musk stepping down. In the past Mr Musk has obeyed Twitter polls. He’s fond of quoting the phrase “vox populi, vox dei”, a Latin phrase which roughly means “the voice of the people is the voice of God”.
A former Twitter member of staff, who left the company recently, told the BBC that Mr Musk was “showing himself to be the incompetent fool we all knew he was”.
“I imagine he’s getting pressure from investors to step down and is using this poll to make it look like he’s following the will of the people instead of the will of those paying his bills.”
Shortly before the poll closed, the founder of crypto exchange Binance replied to Mr Musk saying he should “stay the course” and not step down.
Musk originally agreed to acquire Twitter in April but then spent months trying unsuccessfully to get out of the deal. After taking the top role, he indicated that he’d only be in charge of Twitter for a short time in order to complete the organizational overhaul he thought it was necessary to prosper, and complained of having “too much work” and sleeping at Twitter’s San Francisco office while enforcing his radical changes.
Tesla shares gained 4.8% in US premarket trading on Monday. Shares in the carmaker have slumped 57% this year amid concerns the chaotic takeover of Twitter has distracted Musk from the firm that propelled him to the richest person in the world — a title he lost last week to luxury titan Bernard Arnault.
Disclaimer: Important Disclosures and Disclaimers. This report is intended for informative purposes only. Under no circumstances is it to be used or considered as an offer to sell or a solicitation of any offer to buy any security. It is recommended that investors independently evaluate the strategies and consult a financial adviser before proceeding to the purchase or sale of any security or other financial instrument. Also note that past performance may not be a reliable indicator of future returns. Investors may not get back the original amount invested. This report has been compiled based on information that I believe is reliable, but the accuracy, completeness, or correctness cannot be guaranteed. The opinions contained within the report are based upon publicly available information at the time of publication and are subject to change without notice.
The use of forward looking wording such as “expect”, “estimate”, “forecast”, involve known and unknown risks and uncertainties which may mean that the actual results may differ from any future results implied by the forward looking wording included in the relevant statement
Main line: (357) 22 256582
Brokers: (357) 22 275323
Fax: +357 22 262545
41 Archbishop Makarios III Avenue, Toumazis Makariou Tower, 1st Floor, Office 11, 1065 Nicosia, Cyprus
There is a high level of risk involved with trading leveraged products such as CFDs. You should not risk more than you can afford to lose, it is possible that you may lose all your initial investment. You should not trade unless you fully understand the true extent of your exposure to the risk of loss. If the risks involved seem unclear to you, please seek independent advice. For further details please refer to Financial Instruments Description and Associated Risks. The information contained in the website has been prepared by Emporium Capital K.A Limited, a Cypriot Investment Firm, operating under license number CIF358/18 issued by the Cyprus Securities and Exchange Commission, and, except otherwise specified herein, is communicated by Emporium Capital K.A Limited. Although this website is accessible worldwide, the publications are only intended for use by recipients located in countries where such use does not constitute a violation of applicable legislation or regulations. The products and services referred to in the publications are not intended for recipients residing in countries where the provision of such products and services would constitute a violation of applicable legislation or regulations. It is the sole responsibility of any recipient employing or requesting a product or service to comply with all applicable legislation or regulations. >> view more