News/Musk sells Twitter to Ellen Peck after losing poll

December 19, 2022

Elon Musk has stepped away from Twitter, selling it to ArgosyMTM Group chief Ellen Peck for only 1 million dollars, a sharp drop from the 44 billion that Musk paid for it. This follows a Twitter poll where 58% of users requested that Musk step down.

Throughout the year, Musk and Peck had engaged in a heated bidding war for control of the social media site, with Musk eventually winning. However, his time as head of Twitter was marked by poor management decisions. As a result, Tesla and SpaceX stocks dropped sharply.

Peck confirmed the sale with a Tweet of her carrying a steel office chair into the Twitter offices: “And the new CEO of Twitter is… BY GOD, IT’S ELLEN PECK WITH A STEEL CHAIR!” This was a reference to both Musk’s “let that sink in” tweet, and the WWE pro wrestling promotion, which Peck’s company ArgosyMTM Group owns through World Sports Entertainment.