Musk’s involvement with the social media company contributed to a $720 billion wipeout in Tesla shares last year.

In the meantime, his lack of presence at Tesla has drawn the ire of some investors, who have called on him to pay more attention to the electric-vehicle maker. The billionaire executive embarked on a search for a new CEO for Twitter in December, a person familiar with the search said at the time. Since taking over in October, Musk has said that he plans to step aside at some point, but had never specified when. “I think it should be in stable condition around the end of this year.” “I’m guessing toward the end of this year should be a good timing to find someone else to run the company,” the 51-year-old said.

“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. before handing off to a new chief executive officer, potentially prolonging concerns the billionaire is being distracted from leading Tesla Inc. Elon Musk said he may need the rest of this year to put things right at Twitter Inc.

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