What are Elon Musk’s Goals For Twitter?
By 2028, Elon Musk wants Twitter to more than triple its income and user numbers while reducing its reliance on advertising.
Why it matters: The records reveal that Musk saw himself as capable of generating financial growth unprecedented in the company’s history.
By the numbers:
Here are Musk’s targets, per the Times:
- Increase yearly income from $5 billion last year to $26.4 billion by 2028.
- Get access to over a billion people. Musk wants 600 million users by 2025, up from 217 million last year, and 931 million by 2028.
- Ad revenue should account for 50% of total revenue. (According to the New York Times, advertising accounted for around 90% of income in 2020)
- Increase premium memberships, such as Twitter Blue ($3 per month) to 69 million paying users by 2025 and 159 million by 2028.
Even for the world’s richest man, the purchase of Twitter is a financial stretch.
- Musk proposes $44 billion for Twitter or $54.20 per share.
- Some funds come from Musk’s Tesla stock sales, while others come from other sources.
- Loans taken out by Twitter to repay present shareholders will also provide funding.