Elon Musk’s Twitter Poll Closes

Elon Musk, Twitter CEO, had opened a poll, asking people’s opinion if he should quit as the chief of the micro-blogging platform. The poll comes just a little over a month after the Tesla Chief concluded a deal to take over the company.

In the poll, it was seen that more than half of the voters desired to see Musk step down as the chief of Twitter. More than half who took part in the poll voted in favor of the move.

According to the poll the billionaire launched on Sunday evening, about 57.5% votes were for “Yes”, while 42.5% were against the idea of Musk stepping down as the head of Twitter. Over 17.5 million people took part in the vote.

Tesla shares soared in anticipation of Musk stepping back from Twitter. Tesla’s stock rose as much as 5.3% before the start of regular trading Monday. The shares have plunged 58% since Musk disclosed in early April that he’d taken a stake in Twitter, underperforming the 15% drop in the S&P 500 Index.

Tesla closed last week at a two-year low, costing Musk his position atop the Bloomberg Billionaires Index. While its CEO has been preoccupied with Twitter, the carmaker has been cutting prices and production in China and offering incentives for customers to take delivery of vehicles in the US.

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Musk, who has lost his title as the world’s richest person earlier this month, also founded tunnelling enterprise Boring Company, backs medical device company Neuralink and heads rocket company SpaceX.

Tesla has already lost nearly 60% of its value this year, as, like other carmakers, it battles supply chain issues and increasing competition in the EV space.

Last month, Musk told a Delaware court that he would reduce his time at Twitter and eventually find a new leader to run the social media company.

Replying to one Twitter user’s comment on a possible change in CEO, Musk said on Sunday “There is no successor”.