Though there’s still work to do, Musk thinks he will eventually leave Twitter’s leadership in other hands. 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.
The CEO speaking at B20 Indonesia 2022 on Monday, Musk said he was feeling overworked ever since taking charge of the social media platform.
After taking control of the company, Musk immediately fired Twitter’s board of directors and thousands of staff members. He’s since started employing sweeping changes across the platform, including paid profile verification for $8 per month through Twitter Blue.
He is reported to have said at a Delaware trial while testifying on his Tesla compensation package that he expects to reduce his time at Twitter and find somebody else to run Twitter over time.
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.” He stated that people have no idea how fast Twitter will evolve.
Sam Bankman-Fried, the former CEO of the now-bankrupt crypto exchange FTX amongst other crypto community figureheads approached Musk with ideas for how to improve Twitter leading up to his acquisition.
After a half-hour-long conversation with the former billionaire, Musk said he was suspicious about Bankman-Fried’s true character during a Twitter space this weekend.