Musk aims to quintuple Twitter's revenue to $26.4 billion by 2028
Elon Musk aims to raise Twitter's annual revenue to $ 26.4 billion by 2028, from $ 5 billion last year, citing a drawing by the world's richest man for investors.
On March 24, a few weeks before he promised to buy Twitter, Elon Musk posted a survey on social media: "Twitter's algorithm should be open source," he wrote, with ways for users to vote "yes" or "no." Some Twitter technology is already open source, which means it is publicly available for anyone to ...
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Elon Musk is the second richest man in the world, with an estimated net worth of $ 155bn. He has founded some of the world’s most successful tech companies from PayPal to Tesla, and his voice weighs heavily on technology circles, but his influence on the crypto market is astoundi...
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Advertising will drop to 45% of Musk's total revenue, down from about 90% by 2020, generating $ 12 billion by 2028, and subscriptions are expected to draw another $ 10 billion. according to the report.
Electric car manufacturer Tesla Inc also aims to increase Twitter's revenue by $ 3.2 billion by 2025 and $ 9.4 billion by 2028, reports the newspaper, quoting the presentation.
The billionaire has promised to revitalize the company and increase the number of users by pressing spam bots and reducing the amount of ratings to facilitate "free speech".
Following the closure of the agreement, Musk is expected to become the chief executive of Twitter, a source familiar with the matter told.
Among his other goals, Musk expects the telecommunications company to bring $ 15 million into the 2023 payroll business that will grow to about $ 1.3 billion by 2028, quoted in the statement.
Musk expects to increase Twitter revenue per user to $ 30.22 by 2028 from $ 24.83 last year, he added. He also expects Twitter to have 11,072 employees by 2025, up from about 7,500.
Revenue from Twitter Blue, the company's premium subscription registration service launched last year, is expected to reach 69 million users by 2025, reports.
Musk, in a tweet now deleted last month, has proposed a number of changes to Twitter Blue's premium subscription service for major communications company Twitter, including a reduction in its price.
On Thursday, Musk enlisted a group of top investors ready to donate $ 7.14 billion through his Twitter bid, including Oracle founder Larry Ellison and Sequoia Capital.
Musk increased its financial commitment to $ 27.25 billion, including bonds from 19 investors, and reduced the margin loan from Morgan Stanley tied to his Tesla stockpile to $ 6.25 billion. He has already secured $ 13 billion in debt commitments against Twitter shares.
Musk could not be reached for comment. Twitter did not immediately respond to request for comment.
