Dogecoin, Floki soar after Elon Musk tweets photo on new Twitter CEO

Elon Musk is aiming to find his successor to lead Twitter as chief executive officer toward the end of 2023. “I need to stabilize the organization and just make sure it’s in a financially healthy place and the product road map is clearly laid out,” Musk said via a remote video link to the World Government Summit in Dubai on Wednesday.  

Since taking over in October, Musk has said that he plans to step aside at some point, but had never specified a timeline. After handing over the reins, Musk has said his priority will be to emphasize Twitter’s engineering as owner. The billionaire executive embarked on a search for a new CEO in December, a person familiar with the search said at the time.

DOGE, Floki soar after Musk’s tweet on new CEO

Dogecoin was trading at $0.082 before the tweet by Musk introducing his dog as Twitter CEO and then shot up nearly 5 per cent to $0.86 right after Musk’s tweet. Meanwhile, Floki, which takes its name from Musk’s dog, was up 41 per cent.

Musk nears world’s richest title again

Musk is closing in on recapturing his title as the world’s richest person since falling behind Bernard Arnault in December, thanks to Tesla 70 per cent rise this year.