Washington
American billionaire Elon Musk, the founder of electric car-making company Tesla and spacecraft manufacturing company SpaceX, intends to quintuple Twitter’s annual revenue to USD 26.4 billion by 2028, media reported on Saturday.
The New York Times cited Musk’s pitch deck presented to investors as saying that he would quintuple Twitter’s revenue to USD 26.4 billion by 2028, up from USD 5 billion in 2021.
Musk also intends to cut Twitter’s reliance on advertising to 45 pc of total revenue, saying that in 2028 advertising would generate USD 12 billion in revenue and subscriptions some USD 10 billion. Other revenue would be generated from different businesses, such as data licensing, tipping, and shopping, according to the document.
