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Elon Musk Poll Shows 57.5% Want him to Resign as Twitter CEO

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Elon Musk Poll Shows 57.5% Want him to Resign as Twitter CEO

(CTN News) – Less than two months after becoming CEO of the social media network, Elon Musk faced outrage from Twitter users who voted in a poll for him to resign.

According to the poll, the billionaire started on Sunday night; almost 57.5% of votes favored Elon Musk stepping down as the CEO of Twitter, while 42.5% were against it. More than 17.5 million people attended the voting.

Elon Musk said on Sunday that he would follow the poll’s findings, although he did not specify when to resign if the findings called for it.

In premarket trade, shares of Tesla Inc., the electric vehicle manufacturer Musk leads, were up nearly 5%.

Earlier this month, Musk lost the title of the wealthiest man in the world, launched the tunneling firm Boring Company, supports the manufacture of medical devices by Neuralink, and runs the SpaceX rocket company.

Investors at Tesla have expressed fear that Elon Musk has become overextended due to the Twitter transaction.

As it struggles with supply chain challenges and escalating competition in the EV market, like other automakers, Tesla shares have already lost roughly 60% of their value this year.

Wedbush analyst Dan Ives said in a note, “It looks like Musk’s reign as CEO of Twitter will come to an end, and that will be a significant positive for Tesla’s shares, beginning to gently remove this burden from the tale.”

“Musk is Tesla and Tesla is Musk.”

Tesla is one of the leading manufacturers in the world, producing around a million vehicles annually. Recent logistical difficulties, pandemic-related lockdowns in China, rising borrowing prices, and a gloomy prognosis for global economic development have raised concerns.

Last month, Elon Musk testified in front of a Delaware court that he would work less at Twitter and ultimately hire a new CEO.

Elon Musk responded on Sunday to a Twitter user’s remark about a potential change in the CEO by saying, “There is no succession.”

On Monday, some of the most trending topics on Twitter were “Elon Musk,” “CEO of Twitter,” “vote Yes,” and “vote No.”

The survey was conducted after Twitter’s Sunday policy change, which forbade the creation of accounts purely to promote competing social media companies and posting information that includes links to or usernames for such sites.

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