Elon Musk hopes to have someone take over as CEO of Twitter by 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.

Musk has stated that he intends to stand down at some point since taking the helm in October, but he has never given a time frame. Musk has stated that after relinquishing control, his first aim will be to highlight Twitter’s engineering as the owner.

A person with knowledge of the search at the time stated that the wealthy executive started looking for a new CEO in December. After Musk’s tweet about the new CEO, DOGE and Floki are up.

Prior to Musk’s tweet presenting his dog as Twitter CEO, Dogecoin was trading at $0.082. However, it immediately increased by almost 5% to $0.86. Floki, which gets its name from Musk’s dog, was up 41% in the meantime.

Musk is once again in contention for the title of the richest person in the world. Thanks to the 70% increase in Tesla stock this year, Musk is getting closer to reclaiming his position as the richest person in the world after losing it to Bernard Arnault in December. 

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