Tesla CEO Elon Musk, known for his fascination with Dogeocin (DOGE) in the cryptocurrency space, aims to increase Twitter revenue to 5 times its current value, to over $26 billion by 2028. Here’s Musk’s target…
DOGE fan announced his plans for Twitter from Elon Musk
Musk, as part of his plan to take over the social media platform, this week made it to investors and published by the New York Times. It plans to lay off 1,000 staff, most of whom will be laid off during the transition period, according to a presentation seen before. However, Musk aims to hire thousands more over the next three years, increasing the current number of employees from 7,500 to 11,000. Also, many of the new hires are expected to be engineers. Twitter’s annual revenue was $5 billion last year.
The speech of the billionaire entrepreneur, who is also reportedly wanting to take over the platform as CEO temporarily, has helped reduce Twitter’s reliance on ads to less than 50 percent of revenue and boost the platform’s user base with services like Twitter Blue. outlined its goal of increasing Twitter Blue is an existing service that offers users extra features for a certain amount, but also plans to lower the fee for this service as Musk believes it will reach 69 million users by 2025 and 159 million by 2028.
Musk proposes new subscription service
Musk has also proposed a new subscription service called “X” but on what to offer although he hopes to register 9 million users in the first year before hitting 104 million users in 2028 did not provide detailed information. It estimates that by 2028, subscriptions will generate $10 billion in total revenue.
This follows news last week when Musk said it could be a “slight cost” for business and government users. Data licensing is expected to generate $4.4 billion in 2028 revenue. Musk is said to prefer a subscription-based model over advertiser financing. As we reported on Kriptokoin.com, Musk even suggested that users pay with cryptocurrency, including the meme coin Dogecoin, which he personally loves.