Linus Sebastian, – known for his Linus Tech Tips YouTube channel, – recently announced that he will be stepping down as the CEO of his media group. However, he reassured his audience that he will continue to appear in videos on the channel. Linus also revealed that he declined a significant offer to sell the company, explaining that financial gain is not his primary motivation. In March, Linus faced a temporary setback when some of his channels, including Linus Tech Tips, were hacked to promote crypto scams. Nevertheless, Linus remained resilient and continued to provide valuable content to his dedicated viewers.
Linus; in a video titled “I’m Stepping Down,” explained why he decided to step down as the CEO of Linus Media Group. This organization not only manages the Linus Tech Tips YouTube channels but also oversees Floatplane Media, LTT Labs, and Creator Warehouse. Linus openly acknowledged that he lacks the meticulous attention to detail and temperament necessary to effectively manage an organization with over 100 employees.
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In the video, Linus discussed how he wasn’t naturally equipped to handle the exhaustion that comes with leading the company. He admitted to being too tired to continue in his role and recognized that pushing himself for another decade of business administration would likely be detrimental and lead to his own downfall. Therefore, stepping down seemed logical for the sake of his employees and the online community he has cultivated.
What is next for Linus Tech Tips?
While Linus’s decision to step down may not significantly impact the content produced by Linus Media Group, he will transition to the newly created position of Chief Vision Officer. Playfully, he referred to this role as a “stupid, BS-sounding, made-up role.” Nonetheless, this shift will allow him to make more video appearances since he will have fewer corporate responsibilities to manage. Linus and his wife, Yvonne, will remain the sole proprietors and directors of Linus Media Group.
One intriguing aspect of the video was Linus’s revelation that Linus Tech Tips received an impressive buyout proposal worth $100 million. The offer comprised 60% cash and 40% equity from an undisclosed company. However, Linus turned down the offer, expressing his love for working within his organization and his lack of desire for materialistic indulgences. He emphasized that acquiring $100 million “wouldn’t really change our lifestyle much.”
With an estimated net worth of $85 million, primarily derived from ad revenue, video sponsors, affiliate marketing, and merchandise sales from his store, Linus has already amassed substantial wealth. Terren Tong, who previously worked at Corsair and Dell, will assume the position of CEO at Linus Media Group. Interestingly, Tong was Linus’s superior during their time at NCIX.
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