Mashable: While speaking via video conference at the World Government Summit in Dubai, Musk stressed the need for a functional platform.

Elon Musk, the billionaire owner of Twitter, announced on Wednesday that he plans to choose a new CEO "probably around the end of this year."

While speaking via video conference at the World Government Summit in Dubai, Musk stressed the need of a functional platform.

When asked when he planned to nominate a CEO, Musk stated, "I think I need to stabilise the organisation and just make sure it's in a financially healthy place." To choose a new CEO, he believes it is best to wait until the end of the year.

The new CEO of Twitter is amazing pic.twitter.com/yBqWFUDIQH

— Elon Musk (@elonmusk) February 15, 2023
How seriously Musk will take that timetable is still unknown. Floki, his Shiba Inu, had just been featured on Twitter as the "CEO" of the firm hours before his statement.

Musk, who often shares memes, said, "So much better than that other guy!" The tweets caused a 5 percent increase in the value of Dogecoin, a cryptocurrency based on a Shiba Inu meme. Musk has suggested that Twitter start accepting Dogecoin as payment before.

Musk, 51, first amassed his fortune via the online payment service PayPal, before moving on to establish the aerospace firm SpaceX and the electric automobile manufacturer Tesla. People have been paying greater attention to the uproar over his $44 billion acquisition of the microblogging site Twitter in recent months.

As a result of the Ukrainian military's usage of Musk's Starlink satellite internet service, he has found himself smack dab in the midst of the conflict.

In his 35-minute talk, Musk covered a lot of ground, including the billionaire's concerns about AI, the end of human civilization, and the existence of aliens in the universe. Although Musk stated that Tesla and SpaceX could continue to operate without his constant supervision, issues pertaining to his involvement with Twitter persisted and were asked on the forum.