Elon Musk Reportedly Moves to Charge Twitter Users Per Tweet to Generate Revenue Few Days after Takeover

Elon Musk Reportedly Moves to Charge Twitter Users Per Tweet to Generate Revenue Few Days after Takeover

  • Twitter, one of the major social media networking companies, appears to be planning sweeping changes under the leadership of a new CEO
  • Elon Musk, who recently became the sole owner of Twitter, is considering new methods to return his $43 billion investment
  • One of them is to require websites all around the world to pay Twitter before embedding users' tweets

Elon Musk is reportedly looking to ask websites to pay Twitter for embedding tweets in order to increase revenue for the social media service.

The billionaire made the suggestion to banks as a way to attract lenders, according to Yahoo news.

World Richest man Musk reportedly secured $13 billion in loans tied to his Tesla stock.

Elon Musk reportedly wants to charge Twitter users per tweet to generate revenue
Elon Musk acquired twitter for a whopping $43 billion Credit: gtety
Source: Getty Images

Although no agreement has been finalised as to how much websites would pay, the new strategy will be part of Elon Musk's major choices in the coming weeks.

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Expected big changes

In now-deleted tweets, Musk had earlier suggested features for Twitter’s Blue subscription service – including a lower price and banning advertising, the Independent reports.

It was also reported that the billionaire would also reduce executive and board pay in a way to cut costs.

Musk has also lined up a new chief executive for Twitter, one of the sources added, but would not say who the new head would be.

Such a move would be controversial after the former head of Twitter Jack Dorsey praised Parag Agrawal, the current chief executive, and said that both Mr Musk and Mr Agrawal were aligned on the goals of the platform.

Dorsey in a tweet after the sale said:

“In principle, I don’t believe anyone should own or run Twitter,” Mr Dorsey tweeted on 26 April. “It wants to be a public good at a protocol level, not a company. Solving for the problem of it being a company however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness.

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“Elon’s goal of creating a platform that is ‘maximally trusted and broadly inclusive’ is the right one. This is also [Mr Agrawal’s] goal, and why I chose him. Thank you both for getting the company out of an impossible situation. This is the right path...I believe it with all my heart.”

In two months, Elon Musk lost three times the net worth of Dangote

Legit.ng has reported that Despite Dangote’s wealth as Africa’s richest man, he is nowhere near, Tesla and SpaceX founder, Elon Musk who is far ahead as the world’s richest man.

Elon Musk has lost in the last two months the record amount in dollar equivalent of Aliko Dangote’s net worth three times, due to pressure on Tesla, the most valuable car company in the world.

The electric car manufacturer lost $48.4 billion since the beginning of 2022, Bloomberg's Billionaire Index says.

Source: Legit.ng

Authors:
Dave Ibemere avatar

Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at Legit.ng. He is a financial journalist with over a decade of experience in print and online media. He also holds a Master's degree from the University of Lagos. He is a member of the African Academy for Open-Source Investigation (AAOSI), the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email: dave.ibemere@corp.legit.ng.

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