Linus Sebastian, renowned for his Linus Tech Tips YouTube channel, recently made a significant announcement stating that he will be stepping down as the CEO of his media group. Despite this decision, he assured his audience that he will continue to make appearances in videos on the YouTube channel.
Linus also disclosed that he turned down a substantial offer to sell the company, however he rejected it stating that financial gain is not his driving force. In March, Linus experienced a temporary setback when several of his channels, including Tech Tips, were hacked and used to promote crypto-scam videos. Despite this incident, Linus remained resilient and continued to provide valuable content to his dedicated audience.
In a video titled "I'm Stepping Down," Linus revealed his reasons for relinquishing his position as CEO of Linus Media Group. This organization oversees not only the popular YouTube channels but also Floatplane media, LTT Labs, and Creator Warehouse. Linus openly acknowledged that he lacks the meticulous attention to detail and temperament required to effectively manage an organization with over 100 employees.
In the video, Linus speaks about how he was never built to handle the exhaustion felt from heading up the company. He goes on to confess that he is too exhausted to continue in his role any longer, before acknowledging that pushing himself into enduring another decade of business administration is probably not a good idea and could lead to his own destruction. Thus, it makes sense for him to step down for the sake of his employees and the online community that he has fostered.
While Linus's decision to step down may not have a noticeable impact on the content produced by Linus Media Group, he will be transitioning into the newly created role of Chief Vision Officer. In a humorous tone, he referred to this position as a "stupid, BS-sounding, made-up role." However, this shift will enable him to make more appearances in videos since he will have fewer corporate responsibilities to manage. Linus and his wife, Yvonne, will maintain their positions as the sole proprietors and directors of Linus Media Group.
An intriguing aspect of the video was when Linus revealed that Linus Media Group had received a remarkable buyout proposal of $100 million. The offer consisted of 60% cash and 40% equity from an undisclosed company. However, Linus declined the offer, citing his love for working within his organization and his lack of desire for materialistic indulgences. He goes on to state 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. Taking over the position of CEO at Linus Media Group is Terren Tong, who previously worked at Corsair and Dell. Interestingly, Tong was Linus's superior during their time at NCIX.