After his planned $44 billion acquisition of Twitter is completed, Elon Musk has grandiose plans that include quintupling the company’s revenue by 2028 and generating nearly $50 million from a mysterious product referred to as “X Subscribers,” The New York Times, which obtained his pitch deck for investors, reported Friday.
Among the claims in the deck, according to The Times:
- He’ll quintuple revenue to more than $26 billion by 2028. Last year, revenue was $5 billion.
- He’ll cut the social media platform’s reliance on advertising, which will comprise less than half of revenue by 2028.
- He’ll add nearly $70 million in revenue by 2025 “Twitter Blue,” a premium service introduced last year that lets members customize their experience for $3 a month.
- He’ll generate nearly $50 million from a mysterious product called “X Subscribers,” also by 2025. Musk has previously suggested introducing an ad-free experience, which may be related, The Times pointed out.
- He’ll hire nearly 4,000 employees by 2025, up from around 7,500 now.
Fortune reported Friday that Twitter is worried about retaining current employees and recruiting new ones, according to a Monday SEC filling. Musk threatened last month to slash board members’ pay to $0, Fortune previously reported.
The Twitter acquisition is expected to close later this year.
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