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Musk did not think he could make money with Twitter, then to attract investors he changed his mind

The acquisition of Twitter by Elon Musk is the news of 2022, although on May 13 Musk himself temporarily suspended the deal. Many users are wondering the effects of the change of ownership on the social network , and a fair number anticipated the moves of the billionaire turning to other shores, but the question remains, especially on the financial side.

Shortly before the $ 44 billion offer , Musk had in fact earmarked the loans, at the same time frightening investors with a cryptic phrase like “ I don't want to buy Twitter to make money “. Now he must have changed his mind, because in a Pitch desk (a overview of the business plan ) reserved for investors, he came into the hands of the New York Times, the plans to make social media pay off are clearly shown, and are extremely ambitious .

According to the report, Musk expects to quadruple monthly Twitter users, from 217 ​​million at the end of 2021 to nearly 600 million in 2025 and 931 million by 2028 .

The billionaire also intends to quadruple revenue , from the current 5 billion to 26.4 billion dollars a year in six years . To do this, on the one hand, he wants to lower the advertising revenue (from 90% to 45%) and on the other hand to increase the paid services , with a new “X” service to be added to Twitter Blue, for which it provides for a greater number of users. Finally Musk plans to increase payment services , which should go from the current 15 million to 1.3 billion dollars per year , again by 2028.

We know how Musk always raises the bar in calls to investors, but although these numbers seem truly incredible, never underestimate the resources of the unpredictable entrepreneur.

Street: Engadget
Source: The New York Times