Elon Musk’s goals for Twitter are more than ambitious

Elon Musk envisions Twitter that could more than quadruple its revenue and user base by 2028 while reducing its dependence on advertising, the New York Times reported on Friday, citing leaked slides.

Why it matters: Documents show that Musk imagines himself capable of financial growth unlike anything the company has seen in its history.

By numbers: Here are Musk’s goals, according to the Times:

  • Increase annual income to $ 26.4 billion by 2028, compared to $ 5 billion last year.
  • Reach nearly 1 billion users. Musk’s goal is 600 million users by 2025, up from 217 million last year and 931 million by 2028.
  • Reduce the percentage ad revenue at 50 percent. (Ads accounted for about 90 percent of revenue in 2020, the Times notes.)
  • Increase paid subscriptionsincluding the growth of Twitter Blue (currently $ 3 per month) to 69 million users paying by 2025 and 159 million by 2028.

Take a quick step: Buying on Twitter is a financial effort even for the richest man in the world.

  • Musk is offering $ 44 billion, or $ 54.20 per share, for Twitter.
  • Part of that money comes from Musk’s sale of Tesla shares, while Musk has also agreed on other financing commitments, including foreign and domestic investment.
  • Funding will also come from loans taken by Twitter itself to repay current shareholders.

Yes, but: Both Musk and pitch decks are known for overly rosy predictions.

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