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Twitter takeover: Musk charges ‘light’ for some users after $44 billion deal closes | Business Newsletter



Elon Musk has outlined a plan to charge some Twitter users as part of a plan to increase revenue after completing a $44 billion acquisition of the social media company.

The world’s richest man used his Twitter account to reveal that the era of free tweets is coming to an end when he said: “Twitter will always be free for the average user, but it may have to be pay a little cost for commercial/government users.

“Some sales are better than none!” he added in another tweet.

The announcement builds on a series of other suggestions the Tesla co-founder has made since then agree a deal to post on Twitter in private mode last week.

In tweets that have since been deleted, Musk suggested changes to the paid subscription service Twitter Blue, including discounts, banning ads, and the introduction of an option to pay with the dogecoin cryptocurrency.

He also talked about his desire to have new features to enhance the user experience while increasing trust by authenticating all human users as part of efforts to prevent spam bots. .

Reuters news agency reported that he told banks he would develop new ways to monetize tweets and cut costs through avenues including paying executives.

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

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

Musk is said to have given himself three years to implement the changes and enhance performance.

According to the Wall Street Journal, he is planning to bring Twitter back to the stock market within that timeframe.

The billionaire — who has a net worth of $245 billion on paper — has sold $8.5 billion in Tesla stock to help fund his planned buyback.

Reuters reported on Monday that he was in talks with investment banks and other individuals to help finance the $44 billion deal.



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