Twitter acquisition: Musk eyeing ‘light’ fee for some users after $44bn deal completes | business news

Elon Musk has outlined plans to charge some Twitter users as part of his plan to boost revenue once his $44 billion acquisition of the social media company is complete.

The world’s richest man used his Twitter account to reveal that the era of free tweets was coming to an end when he said: “Twitter will always be free for casual users, but maybe a small cost for business/government users. .

“Some income is better than none!” he added her in another tweet.

The announcement builds on a number of other suggestions the Tesla co-founder has made since make a deal to take Twitter private last week.

In tweets that were later deleted, Musk suggested changes to Twitter Blue’s premium subscription service, including lowering its price, banning advertising, and the option to pay in the dogecoin cryptocurrency.

He has also spoken of wanting new features to improve the user experience while also increasing trust by authenticating all users as human as part of an attempt to crack down on spam bots.

The Reuters news agency reported that it had told banks it would develop new ways to monetize tweets and cut costs through avenues including executive pay.

At the annual Met Gala in New York on Monday, Musk expressed frustration that Twitter’s reach is currently only “niche” and he would want a much higher percentage of Americans on it.

Twitter currently has around 40 million daily active users in the US, according to the company.

Musk has reportedly given himself three years to implement changes and improve performance.

According to the Wall Street Journal, he plans to put Twitter back on the stock market in that time frame.

The billionaire, who has a net worth of $245 billion on paper, sold $8.5 billion worth of Tesla stock to help finance his planned acquisition.

Reuters reported on Monday that it was in talks with investment banks and others with means to help finance the $44 billion deal.

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