Musk plans to increase Twitter’s revenue to $26.4 billion by 2028

$44 billion from Musk Twitter disputed purchase in shareholder lawsuit

Data licencing, tipping, and shopping, among other businesses, would produce more revenue, according to the document. Musk also plans to increase average revenue per user to USD 30.22 in 2028, hitting 931 million users, have 104 million subscribers for a new unannounced product dubbed “Product X,” and hire an additional 3,600 employees. In late April, Musk agreed to buy Twitter for USD 54.20 per share in a deal worth around USD 44 billion.

American billionaire Elon Musk expects to quintuple Twitter’s yearly revenue to USD 26.4 billion by 2028, media covered Saturday. The New York Times cited to the Tesla founder’s pitch deck introduced to investors as saying that Musk would quintuple Twitter’s income to USD 26.4 billion by 2028, up from USD 5 billion out of 2021. Musk likewise means to cut Twitter’s reliance on advertising to 45 percent of total revenue, assessing that advertising would produce USD 12 billion in revenue and subscriptions some USD 10 billion by 2028.

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Musk later stated that he would like to revolutionise Twitter’s role in public debate as “free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated.”

Earlier, the American billionaire said that he was ready to spend USD 21 billion of his own funds to seal the deal and that Morgan Stanley Senior Funding, Bank of America, Barclays, and other institution will provide USD 25.5 billion in debt financing, with some USD 12.5 billion to of the loan to be secured with Tesla shares.

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