Elon Musk considers stepping back from Twitter and Tesla

Twitter CEO Elon Musk stated Wednesday he plans to ultimately find another person to run the social media brand, according to Reuters, and is reportedly contemplating doing the same with another one of his companies, electric car giant Tesla.

Musk’s remarks came throughout testimony in a Delaware court, during 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 simply achievable targets authorized by a handpicked board of directors.

Per Reuters, investors at Tesla are reportedly becoming more concerned that Musk is devoting an excessive amount of of his time to Twitter. Nonetheless, throughout the testimony, Musk stated, “There’s an initial burst of activity needed post-acquisition to reorganize the company, but then I expect to reduce my time at Twitter.”

It could be, although, that Musk can be looking towards the next chapter at Tesla.

This revelation reportedly came from one of Tesla’s board members, James Murdoch, who also testified at the trial. Throughout the testimony, Murdoch informed the court Musk had just lately “identified a potential successor” that might take over as CEO of Tesla, The Wall Street Journal reported. This might seemingly mark a change for Musk, who mentioned 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 stated of his job at Tesla.