Elon Musk, the billionaire leader of Tesla Inc., said on Wednesday that he aims to find a new chief executive officer for Twitter Inc. by the end of this year. He said he wants to stabilize the organization, improve its financial health, and lay out a clear product roadmap before stepping down.
Musk, who took over Twitter in October, spoke via a remote video link to the World Government Summit in Dubai. He said he had never intended to stay long at the helm of the social media platform, and that he started a search for a new CEO in December.
Some investors and analysts have expressed concerns that Musk is being distracted from his main role at Tesla, the electric-vehicle maker that faces increasing competition and regulatory challenges. Musk said he works seven days a week and sleeps six hours a night, and that his work occupies him from the moment he wakes up until he goes to bed.
He said he would like to work less and have more time for other things. “It’s not my intention to work like crazy,” he said. “A mere 80-hour working week would be fine. That is what I would aspire to.”
Musk also shared his vision for Twitter and his efforts to combat misinformation on the platform. He said he wanted Twitter to be a source of truth and he encouraged companies, other CEOs, and ministers to speak authentically, even if it draws criticism.
“Having some criticism is fine,” he said. “It’s really not that bad. I’m constantly attacked on Twitter. I don’t mind.”
Musk said he did not try to restrict social media usage for his children, but that may have been a mistake. He said he worries about the impact of social media on young people’s mental health and self-esteem.`
