• Twitter is now wholly controlled by Musk as of October 27.
• He paid $44 billion for Twitter (roughly Rs. 3,37,465 crore).
• A number of journalists' accounts were recently suspended by Musk.

Elon Musk announced on Tuesday that he will stand down as Twitter's CEO once he found a successor, ostensibly in reaction to the results of a poll he had conducted that suggested users wanted him to go.

 Twitter is now entirely under Musk's ownership as of October 27. As CEO, he has repeatedly courted controversy by firing half of the company's employees, re-admitting far-right figures to the site, suspending journalists, and attempting to charge for previously free services.

 He said, he will resign as CEO as soon as he finds someone foolish enough to accept the position. Then, according to Musk, he would solely be in command of Twitter's server and software teams. In the survey results that were announced on Monday, 57 percent of participants, or 10 million votes, backed Musk stepping down just weeks after purchasing the company for $44 billion (roughly Rs. 3,37,465 crore). Musk has made additional decisions on the social media platform using Twitter polls, such as reactivating Donald Trump's account and the accounts of other suspended users.

 This week, he made fun of a rumour that he was looking for a new CEO for Twitter by tweeting that 'no one wants the position who can legitimately keep Twitter alive.' He did this by using a laughing emoji. Analysts have noted that since Musk took over Twitter, the stock price of his electric vehicle company Tesla has dropped by one-third, and some have theorised that the board of Tesla may have put pressure on Musk to quit from his position there. 

Wedbush analyst Dan Ives said on Tuesday that it was 'finally a good move in the right way to resolve this agonising nightmare situation for Tesla investors.' After publishing his most recent survey, Musk engaged in conversations with users, reiterating his earlier cautions that the platform might be in financial trouble. 

Shortly after attempting to get out of yet another controversy, the erratic businessman tweeted his poll regarding his resignation. On Sunday, Twitter users received notice that they would no longer be able to promote content from other social media sites. A few hours later, Musk seemed to have second thoughts, saying that the rule only applies to accounts whose “primary objective is promotion of competitors.”