Elon Musk wants to find a successor to take over from him at the social media company Twitter by the end of this year.
Musk, speaking via video link at the World Government Summit in Dubai, said he wants to stabilize the messaging service financially before handing over the reins to a new leader.
Musk stated earlier this month that the immediate risk of bankruptcy for Twitter had been averted. According to him, the line towards a break-even result, the point at which a company no longer makes a loss but also does not yet make a profit, has already been set.
The billionaire acquired Twitter for $ 44 billion at the end of October and has already called the past few months “extremely tough”. He was not only involved in a major reorganization at Twitter, in which he fired about half of the staff but also had day-to-day management at the electric car manufacturer Tesla and the aerospace company SpaceX.
Tesla shareholders will be happy if Musk hands over the day-to-day management of Twitter. They think that he spends too much time on social media company. Musk also sold billions in Tesla stock to finance the acquisition of Twitter.