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Elon Musk Announces He's Stepping Down as Twitter CEO Six Months After $44 Billion Takeover

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Source: mega

May 11 2023, Published 5:57 p.m. ET

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Six months was the magic number for those who placed their bets on Elon Musk's tenure as Twitter CEO. The tech billionaire announced on Thursday that he's stepping down as head of the social platform, RadarOnline.com has learned.

Musk's not walking away from Twitter altogether, though. The Tesla founder will transition to executive chairman and chief technology officer.

In October 2022, Musk famously dropped $44 billion to purchase the social media site, which saw an immediate downturn in value — and overwhelming criticism from veteran account holders who opposed Musk's leadership.

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Source: mega

For a brief time, Musk ruled Twitter with the decorum of a middle school bully. As of Thursday afternoon, however, he announced that an unnamed woman will assume the role of CEO.

Musk revealed he was stepping down to his 139.3 million followers in a post on the platform.

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Source: @elonmusk/Twitter
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Musk was "excited" to announce he would no longer serve as the so-called "chief Twit." In less than six weeks the new female CEO, who Musk did not publicly name, will take control of leadership.

While Musk won't be CEO anymore, he'll remain close by. Under his new capacity as executive chairman and CTO, he will be "overseeing product, software & sysops" for Twitter.

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News of Musk's time as Twitter CEO coming to a crashing halt followed embattled ex-Fox News anchor Tucker Carlson announcing that he would be bringing his former primetime program to the platform.

In Carlson's announcement on Twitter, the ousted anchor praised Musk's leadership and vision for the platform.

Despite being at the center of Dominion Voting Systems' defamation lawsuit against Fox News, which pushed the network to settle for $787.5 million, Carlson claimed Twitter was the future of journalism as he condemned mainstream media for pushing political agendas.

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Since Musk took over at Twitter, he vowed to make the space sacred grounds for free speech. In reality, users complained of an influx of far-right propaganda, in addition to a plethora of allegations in regard to community rules violations and security leaks.

Musk reinstated ex-prez Donald Trump's Twitter account, which was removed by previous leadership after the insurrection at the Capitol on January 6.

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