The world’s richest man and Twitter’s new owner has some grand plans for the social media giant and its financial targets.
Musk recently bought Twitter for a jaw-dropping $44 billion with an intention to strip back restrictions on free speech. After having recently presented a pitch deck to investors, Musk said that under his leadership, the company’s annual revenue will soar.
According to his pitch deck, the billionaire plans for Twitter’s current 217 million users to rise to 931 million in 2028. Besides getting more people to join, he thinks he can rake in almost $10 billion in revenue from subscriptions by 2028 – that’s twice the total revenue of $5 billion that the platform made last year!
The Secret Formula? Musk will launch a mysterious product soon – which he lovingly calls ‘Product X’ (C’mon, we all know the Tesla billionaire’s love for cryptic names, including his own child’s!).
This product is expected to arrive in 2023 and score 9 million users within the first year.
Uh oh, there’s more to this than meets the eye.
To achieve this, 1,725 new workers will be hired by Twitter. On the flipside, 893 existing employees are in line for the chop as Mr Musk wants to “shed workers” and recruit new talent in engineering.
Also, earlier this month Musk said he would have corporations and governments pay to use Twitter. Jeez!
Too long? Here’s a one-liner: A mysterious ‘Product X’ is part of Elon Musk’s Twitter takeover plans which could achieve 104 Mn users by 2028; revenue is expected to double by next year.