Elon Musk’s Twitter Poll Shows Users Want Him to Step Down as CEO
Kanebridge News
Share Button

Elon Musk’s Twitter Poll Shows Users Want Him to Step Down as CEO

After billionaire asks on social-media platform whether he should stay or go, 57.5% of respondents say he should go

By ALEXA CORSE
Tue, Dec 20, 2022 9:00amGrey Clock 3 min

Elon Musk should step down as chief of Twitter Inc., according to a poll the billionaire orchestrated and pledged to follow, casting new uncertainty on the social-media platform after more than seven weeks of turmoil since he took it over.

More than 17 million Twitter users had voted by the time the poll on the platform closed after 6 a.m. ET, with 57.5% saying he should leave as head of the company. Mr. Musk, who in October closed a $44 billion deal for Twitter, had said when he launched the Twitter poll on Sunday that he would abide by the results.

It isn’t clear who would take over leading Twitter if Mr. Musk steps aside as CEO, or what his role would be, given that he still owns the company. Most of the company’s prior leadership was either fired or left after he took over.

“No one wants the job who can actually keep Twitter alive. There is no successor,” Mr. Musk tweeted Sunday.

Twitter didn’t respond to a question on the poll’s outcome.

The billionaire’s leadership at Twitter has been tumultuous and weighed on sentiment toward his other businesses, particularly car maker Tesla. Shares in the auto maker have fallen more than 56% this year, frustrating some retail investors who partly blame Mr. Musk’s focus on Twitter for the decline. Mr. Musk’s Twitter involvement also has dented Tesla’s brand image.

Tesla shares initially advanced Monday following the suggestion that Mr. Musk would stop running Twitter, though later fell along with the broader market.

There have been questions since Mr. Musk first showed interest in buying Twitter how he would juggle running the company while also pursuing all his other endeavours.

Bill Nelson, the National Aeronautics and Space Administration’s administrator, this month said he had asked SpaceX President Gwynne Shotwell if Twitter would divert from the rocket company’s mission. “She assured me that it would not be a distraction,” Mr. Nelson said.

Mr. Musk said last month that he had too much work on his plate.

“I expect to reduce my time at Twitter and find somebody else to run Twitter over time,” he testified at a trial about his Tesla pay package last month. He also said he has been spending most of his time of late focusing on Twitter. At the time, he wrote on Twitter, “I will continue to run Twitter until it is in a strong place, which will take some time.”

The outcome of the poll adds another disruption at the top of Twitter, which has suffered waves of leadership upheaval. Co-founder and former CEO Jack Dorsey handed over running the company little over a year ago after a bruising battle with an activist investor. His successor, Parag Agrawal, lasted less than a year and was fired by Mr. Musk immediately after he took over the company in October. Mr. Musk also ousted several other top Twitter executives, and more have resigned since.

Mr. Musk has been the driving force at Twitter for nearly two dramatic months, with many advertisers having paused spending, resignations, and content-moderation actions that have been abrupt and controversial among many users. This past week has been another one full of twists. Twitter suspended the accounts of several journalists, prompting criticism from some lawmakers and officials before Mr. Musk said Saturday that Twitter would begin reinstating the accounts.

Earlier Sunday, Twitter made another sudden change to its content-moderation rules, saying it would no longer allow “free promotion of certain social media platforms.” That also fuelled criticism and questions, including from Mr. Dorsey, who previously endorsed Mr. Musk’s takeover. “Doesn’t make sense,” Mr. Dorsey tweeted Sunday.

Late Sunday, the tweets from @TwitterSupport and a note on the company’s website announcing the policy against promoting other social-media platforms appeared to have been deleted. Twitter’s head of trust and safety, Ella Irwin, said Monday that the company removed the new policy “in response to user feedback.” Ms. Irwin said that links to other social-media sites will be allowed until Twitter determines whether or not to implement a new policy prohibiting them.

Mr. Musk, who has said he intends to make the platform a bastion of free speech, appeared to acknowledge some concerns about the recent, abrupt content policy changes. “Going forward, there will be a vote for major policy changes. My apologies. Won’t happen again,” he tweeted shortly before posting the poll about his leadership Sunday.

Mr. Musk has warned about Twitter’s financial condition, saying last month that the company had suffered “a massive drop in revenue” and was losing over $4 million a day. He later raised the possibility of bankruptcy.

Mr. Musk’s team this past week reached out for potential fresh investment for Twitter at the same price as the original $44 billion deal, a Twitter investor said.

Some Tesla shareholders have complained that Mr. Musk’s recent focus on Twitter is hurting the auto maker. This month he sold more than $3.5 billion of Tesla stock in his second round of sales since buying Twitter. It wasn’t clear what prompted Mr. Musk to sell additional Tesla stock.

Democrat Sen. Elizabeth Warren of Massachusetts on Sunday sent a letter to Tesla’s board chair, Robyn Denholm, raising questions about Mr. Musk’s involvement with Twitter, suggesting it could be to the detriment of the auto maker’s shareholders and create conflicts of interest. The senator has sparred before with Mr. Musk.

Tesla didn’t respond to a request for comment about the share sale or the senator’s letter.

—Peter Stiff contributed to this article.



MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Related Stories
Property
‘Are There Any Parisians Left?’ The Olympics Have Residents Fleeing the City.
By KATE TALERICO 26/07/2024
Lifestyle
Alexa Is in Millions of Households—and Amazon Is Losing Billions
By DANA MATTIOLI 24/07/2024
Lifestyle
Is ‘Rizz’ the Secret to Getting Ahead at Work?
By Rachel Feintzeig 22/07/2024
‘Are There Any Parisians Left?’ The Olympics Have Residents Fleeing the City.
By KATE TALERICO
Fri, Jul 26, 2024 4 min

As Paris makes its final preparations for the Olympic games, its residents are busy with their own—packing their suitcases, confirming their reservations, and getting out of town.

Worried about the hordes of crowds and overall chaos the Olympics could bring, Parisians are fleeing the city in droves and inundating resort cities around the country. Hotels and holiday rentals in some of France’s most popular vacation destinations—from the French Riviera in the south to the beaches of Normandy in the north—say they are expecting massive crowds this year in advance of the Olympics. The games will run from July 26-Aug. 1.

“It’s already a major holiday season for us, and beyond that, we have the Olympics,” says Stéphane Personeni, general manager of the Lily of the Valley hotel in Saint Tropez. “People began booking early this year.”

Personeni’s hotel typically has no issues filling its rooms each summer—by May of each year, the luxury hotel typically finds itself completely booked out for the months of July and August. But this year, the 53-room hotel began filling up for summer reservations in February.

“We told our regular guests that everything—hotels, apartments, villas—are going to be hard to find this summer,” Personeni says. His neighbours around Saint Tropez say they’re similarly booked up.

As of March, the online marketplace Gens de Confiance (“Trusted People”), saw a 50% increase in reservations from Parisians seeking vacation rentals outside the capital during the Olympics.

Already, August is a popular vacation time for the French. With a minimum of five weeks of vacation mandated by law, many decide to take the entire month off, renting out villas in beachside destinations for longer periods.

But beyond the typical August travel, the Olympics are having a real impact, says Bertille Marchal, a spokesperson for Gens de Confiance.

“We’ve seen nearly three times more reservations for the dates of the Olympics than the following two weeks,” Marchal says. “The increase is definitely linked to the Olympic Games.”

Worried about the hordes of crowds and overall chaos the Olympics could bring, Parisians are fleeing the city in droves and inundating resort cities around the country.
Getty Images

According to the site, the most sought-out vacation destinations are Morbihan and Loire-Atlantique, a seaside region in the northwest; le Var, a coastal area within the southeast of France along the Côte d’Azur; and the island of Corsica in the Mediterranean.

Meanwhile, the Olympics haven’t necessarily been a boon to foreign tourism in the country. Many tourists who might have otherwise come to France are avoiding it this year in favour of other European capitals. In Paris, demand for stays at high-end hotels has collapsed, with bookings down 50% in July compared to last year, according to UMIH Prestige, which represents hotels charging at least €800 ($865) a night for rooms.

Earlier this year, high-end restaurants and concierges said the Olympics might even be an opportunity to score a hard-get-seat at the city’s fine dining.

In the Occitanie region in southwest France, the overall number of reservations this summer hasn’t changed much from last year, says Vincent Gare, president of the regional tourism committee there.

“But looking further at the numbers, we do see an increase in the clientele coming from the Paris region,” Gare told Le Figaro, noting that the increase in reservations has fallen directly on the dates of the Olympic games.

Michel Barré, a retiree living in Paris’s Le Marais neighbourhood, is one of those opting for the beach rather than the opening ceremony. In January, he booked a stay in Normandy for two weeks.

“Even though it’s a major European capital, Paris is still a small city—it’s a massive effort to host all of these events,” Barré says. “The Olympics are going to be a mess.”

More than anything, he just wants some calm after an event-filled summer in Paris, which just before the Olympics experienced the drama of a snap election called by Macron.

“It’s been a hectic summer here,” he says.

Hotels and holiday rentals in some of France’s most popular vacation destinations say they are expecting massive crowds this year in advance of the Olympics.
AFP via Getty Images

Parisians—Barré included—feel that the city, by over-catering to its tourists, is driving out many residents.

Parts of the Seine—usually one of the most popular summertime hangout spots —have been closed off for weeks as the city installs bleachers and Olympics signage. In certain neighbourhoods, residents will need to scan a QR code with police to access their own apartments. And from the Olympics to Sept. 8, Paris is nearly doubling the price of transit tickets from €2.15 to €4 per ride.

The city’s clear willingness to capitalise on its tourists has motivated some residents to do the same. In March, the number of active Airbnb listings in Paris reached an all-time high as hosts rushed to list their apartments. Listings grew 40% from the same time last year, according to the company.

With their regular clients taking off, Parisian restaurants and merchants are complaining that business is down.

“Are there any Parisians left in Paris?” Alaine Fontaine, president of the restaurant industry association, told the radio station Franceinfo on Sunday. “For the last three weeks, there haven’t been any here.”

Still, for all the talk of those leaving, there are plenty who have decided to stick around.

Jay Swanson, an American expat and YouTuber, can’t imagine leaving during the Olympics—he secured his tickets to see ping pong and volleyball last year. He’s also less concerned about the crowds and road closures than others, having just put together a series of videos explaining how to navigate Paris during the games.

“It’s been 100 years since the Games came to Paris; when else will we get a chance to host the world like this?” Swanson says. “So many Parisians are leaving and tourism is down, so not only will it be quiet but the only people left will be here for a party.”

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Related Stories
Property
A Window Has Cracked Open For Buyers Looking For Homes Along the French Riviera
By KATE TALERICO 07/07/2024
Money
The top 10 motivators for Australian investors
By Bronwyn Allen 25/07/2024
Property
The top 20 local government areas where more homeowners are selling at a loss
By Bronwyn Allen 02/07/2024
0
    Your Cart
    Your cart is emptyReturn to Shop