Musk stated on Wednesday that he hopes to choose his successor as Twitter CEO by the end of the year. In response to a question regarding his successor, the billionaire stated via video link at the World Government Summit in Dubai, “I think I need to stabilize the organization and make sure it’s in a financially healthy situation.” “I estimate that the end of this year would be a suitable time to recruit a new leader for the organization.”

The mega-troll also introduced his Shiba Inu, Floki, as the new CEO of Twitter on Tuesday night. “So much better than that other person,” he captioned a photo of the dog wearing a suit and sitting at a desk. After the tweets were released, the price of Dogecoin, a cryptocurrency featuring a Shiba Inu cartoon, increased by almost 5 percent.