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Elon Musk has stepped out to express his goals for the microblogging network when the takeover is done, as the rumored takeover of Twitter continues to dominate the online landscape. Musk wants to increase Twitter revenue in addition to advocating free speech regardless of political ideas and leanings. According to Musk, Twitter is a medium with enormous potential, which he plans to use once he assumes control.
Elon Musk aims to increase Twitter’s yearly earnings to $26.4 billion by 2028, according to the New York Times, a significant increase from the current $5 billion in sales. This was said in a pitch deck handed to investors by the world’s richest man, Elon Musk.
According to research, advertising will account for 45 percent of total revenue under Musk, down from around 90% in 2020. In 2028, this will generate $12 billion in revenue, with memberships bringing in another $10 billion. Additionally, according to the publication, Tesla’s CEO intends to increase Twitter’s cash flow to at least $3.2 billion in 2025 and $9.4 billion in 2028.
Musk first came into the news when he announced that he had bought 9% of Twitter stakes, thereby making him the highest shareholder, before Musk decided to buy Twitter for $44 billion in cash last month, effectively taking control of the microblogging network that has become home to millions of individuals, including world leaders. When the deal is finalized, the Tesla CEO will control 100 percent of Twitter.
According to a source acquainted with the issue, Musk has pledged to re-energize the company and ensure an increase in user numbers while focusing on spambots. Musk also wants to lessen the social media company’s moderation level to allow greater “free expression.” After the deal is completed, he is expected to become Twitter’s interim CEO.
According to the New York Times, Musk expects the social media company to earn $15 million in 2023 from its payments division, which will grow to $1.3 billion by 2028.
Musk also stated that Twitter’s average revenue per user will increase to $30.22 in 2028, up from $24.83 last year. In addition, he estimates that Twitter will have 11,072 employees by 2025, up from around 7,500 now.
According to the business, Twitter Blue, the company’s premium membership service launched last year, is anticipated to have 69 million subscribers by 2025. Musk proposed a variety of changes to the social media giant’s Twitter Blue premium subscription program, including lowering its price, in a now-deleted tweet last month.
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Musk claimed on Thursday that a group of high-profile investors, including Oracle co-founder Larry Ellison and Sequoia Capital, are willing to put $7.14 billion into his offer for Twitter.
Musk has increased his financial commitment to $27.25 billion, which includes pledges from 19 investors, and has reduced a Morgan Stanley margin loan tied to his Tesla stock to $6.25 billion. He’s already received $13 billion in loan guarantees backed by Twitter stock.
It has been impossible to reach Musk or any member of his staff for comment or confirmation.
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