Musk’s words aren’t binding, and it’s not clear what the role of a CEO would be with a dominating personality like Musk still as owner of the company.
Musk has yet to identify a future successor and, in fact, floated the possibility in November that he might have to file for bankruptcy in order to pay back the $13 billion in debt he borrowed from banks for the purchase. He has seen his personal fortune decline since he bought the site, losing his title as the world’s richest man.
In the less than two months since Musk bought Twitter for $44 billion and took it private, he has fired its top leadership team, gutted its staff, driven away major advertisers and unbanned accounts, including that of former President Donald Trump. His actions have raised concerns about the future of the platform.
However, despite the controversy Musk has stoked in lifting most of its existing rules against misinformation with his commitment to “free speech,” lawmakers remain on the site. Many say there isn’t another social media platform with the equivalent reach to reporters and Washington insiders.