Report: Elon Musk considering stepping back from Twitter and Tesla


Twitter CEO Elon Musk said Wednesday he plans to eventually find someone else to run the social media brand, according to Reuters, and is reportedly considering doing the same with another one of his companies, electric car giant Tesla.
Musk's remarks came during testimony in a Delaware court, in which he took the stand in a lawsuit over his $56 billion pay package from Tesla. The lawsuit claims that the package was based on easily achievable targets approved by a handpicked board of directors.
Per Reuters, investors at Tesla are reportedly becoming more concerned that Musk is devoting too much of his time to Twitter. However, during the testimony, Musk said, "There's an initial burst of activity needed post-acquisition to reorganize the company, but then I expect to reduce my time at Twitter."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
It may be, though, that Musk is also looking toward the next chapter at Tesla.
This revelation reportedly came from one of Tesla's board members, James Murdoch, who also testified at the trial. During the testimony, Murdoch told the court Musk had recently "identified a potential successor" that could take over as CEO of Tesla, The Wall Street Journal reported. This would seemingly mark a change for Musk, who said in 2021 that he had no plan of succession for Tesla.
"CEO is often viewed as somewhat of a business-focused role, but in reality my role is much more that of an engineer developing technology," Musk said of his job at Tesla.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Justin Klawans has worked as a staff writer at The Week since 2022. He began his career covering local news before joining Newsweek as a breaking news reporter, where he wrote about politics, national and global affairs, business, crime, sports, film, television and other news. Justin has also freelanced for outlets including Collider and United Press International.
-
Cytomegalovirus can cause permanent birth defects
The Explainer The virus can show no symptoms in adults
-
Summer in Seattle: Outdoor dining like nowhere else
Feature Featuring a patio with a waterfront view, a beer garden, and more
-
Ari Aster revisits the pandemic, Adam Sandler tees off again and Lamb Chop gets an origin story in July movies
the week recommends The month's film releases include 'Eddington,' 'Happy Gilmore 2' and 'Shari & Lamb Chop'
-
Musk chatbot Grok praises Hitler on X
Speed Read Grok made antisemitic comments and referred to itself as 'MechaHitler'
-
Another Starship blast sets back Musk's Mars hopes
Speed Read Nobody was killed in the explosion, which occurred in south Texas
-
Disney, Universal sue AI firm over 'plagiarism'
Speed Read The studios say that Midjourney copied characters from their most famous franchises
-
What Elon Musk's Grok AI controversy reveals about chatbots
In the Spotlight The spread of misinformation is a reminder of how imperfect chatbots really are
-
Elon Musk's SpaceX has created a new city in Texas
Under The Radar Starbase is home to SpaceX's rocket launch site
-
Amazon launches 1st Kuiper internet satellites
Speed Read The battle of billionaires continues in space
-
Test flight of orbital rocket from Europe explodes
Speed Read Isar Aerospace conducted the first test flight of the Spectrum orbital rocket, which crashed after takeoff
-
Musk vs. Altman: The fight over OpenAI
Feature Elon Musk has launched a $97.4 billion takeover bid for OpenAI