Elon Musk aims to quintuple Twitter's revenue to $26.4 billion by 2028, NYT says

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Elon Musk is aiming to summation Twitter (TWTR)'s yearly gross to $26.4 cardinal by 2028, up from $5 cardinal past year, the New York Times reported connected Friday, citing a transportation platform presented by the world's richest antheral to investors.

Advertising volition autumn to 45% of full gross nether Musk, down from astir 90% successful 2020, generating $12 cardinal successful gross successful 2028, portion subscriptions are expected to propulsion successful different $10 billion, according to the report.

How Elon Musk could interaction   Twitter's battles implicit    code   abroad

The caput of electric-vehicle shaper Tesla (TSLA) besides aims to summation Twitter's currency travel to $3.2 cardinal successful 2025 and $9.4 cardinal successful 2028, the paper reported, citing the presentation.

    Musk clinched a woody past period to bargain Twitter for $44 cardinal successful cash, successful a determination that volition displacement power of the societal media level populated by millions of users and planetary leaders to the Tesla chief.

      The billionaire has promised to revitalize the institution and grow the fig of users by cracking down connected spam bots and reducing the magnitude of moderation to facilitate much "free speech."

      After the closure of the deal, Musk is expected to go Twitter's impermanent CEO, a idiosyncratic acquainted with the substance told Reuters connected Thursday.

      Among his different goals, Musk expects the societal media institution to bring successful $15 cardinal from a payments concern successful 2023 that volition turn to astir $1.3 cardinal by 2028, the NYT cited the papers arsenic saying.

        Musk anticipates helium tin summation Twitter's mean gross per idiosyncratic to $30.22 successful 2028 from $24.83 past year, it added. He besides expects Twitter to person 11,072 employees by 2025, up from astir 7,500.

        Elon Musk says fees for immoderate   users whitethorn  beryllium  coming to Twitter

        Revenue from Twitter Blue, the company's premium subscription work launched past year, is expected to person 69 cardinal users by 2025, the NYT reported.

        Musk, successful a present deleted tweet past month, suggested a raft of changes to the societal media giant's Twitter Blue premium subscription service, including slashing its price.

        On Thursday, Musk listed a radical of high-profile investors who are acceptable to supply backing of $7.14 cardinal for his Twitter bid, including Oracle co-founder Larry Ellison and Sequoia Capital.

          Musk has accrued the financing committedness to $27.25 billion, which includes commitments from 19 investors, and reduced a borderline indebtedness from Morgan Stanley tied to his Tesla banal to $6.25 billion. He has already secured commitments for $13 cardinal successful loans against Twitter shares.

          Musk could not beryllium reached for comment. Twitter did not instantly respond to a Reuters petition for comment.

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