February 16, 2023: -On Wednesday, Elon Musk said that he might establish his beneficiary as Twitter CEO by 2023 but initially needs to “stabilize” his social media firm.

“I think I am required to stabilize the organization and just ensure it’s in a financially healthy place and that the consequence roadmap is laid out,” Musk states at the World administration Summit in Dubai.

“I’m guessing probably towards the year-end should be good timing to search for someone else to run the firm as I think it should be in a stable position near the end of this year.”

Musk is taking over as CEO of Twitter as part of his $44 billion needed for the social media company in October.

The billionaire indicated the previous year that he doesn’t anticipate being the CEO of Twitter and eventually will hand regarding the reins over to someone else.

In December, Musk noted in a tweet a poll asking people whether he should come off as the head of Twitter. The high of the 17.5 million votes stated yes.

“I will resign as CEO as I find someone foolish enough to take the job! After that, I will run the software & servers’ teams,” Musk tweeted following the poll.

His tenure at Twitter has been rocky, marked by huge staff cuts and advertisers fleeing or cutting their spending on the platform.

Therefore, investors in Musk’s other firm Tesla concerning that he may be delighted by the events at Twitter at similar when the automaker faces demand challenges and surging competition. Musk is selling off billions of dollars of Tesla stock to fund his Twitter takeover.