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Only the 834756385th time this has been posted today.
it has been posted a few times, but this is the first one
What an expensive lesson for him to teach himself (if he has indeed learned anything).

I can appreciate his ambition, and what (some of) his companies have done, but he has absolutely mismanaged the acquisition and running of twitter.

If he could just step back, stick to managing SpaceX, Tesla and Boring, and stop tweeting, I would be very happy.

Every mistake he's made at Twitter, he's made before, many times. But at Twitter, he did in a more public, spectacular way. In some cases at higher scale. From everything I've seen from him at this point - he won't learn. Plus, he's a 50+ year old man. Can't teach old dogs new tricks.
The new CEO is a meatshield. Elon retains every operational title with a budget and content-related decisions.

The compensation must be spectacularly good, at least relative to the new CEO's prior position.

That will be a miserable job. The new CEO will be constantly micromanaged by Musk and routinely undermined by his latest antics.