Elon Musk broke the internet following the purchase of Twitter. Even though this occurred a couple of days ago, it remains a hot topic. While some have been urging Musk to buy other companies and fix their shortcomings, a few others have been flooding his Twitter handle with suggestions. As Musk deals with this, reports about how he would be monetizing Twitter began surfacing.
Earlier this week, Musk poured in $44 billion to buy Twitter. While it was speculated that he sold $4 billion worth of Tesla shares to fund his big purchase, it was also revealed that he sought help from banks. During his pitch to the banks, Musk had to outline Twitter’s cash flow. As per reports, Musk notified the banks that he would be formulating new ways to monetize tweets.
Elon Musk reportedly acquired $13 billion in loans against Twitter and a $12.5 billion margin loan connected to his Tesla stock, according to three individuals quoted by Reuters. The rest was taken from his pocket.
Therefore, Musk would soon be implementing ways to monetize the space while making cost cuts. Cost cuts reportedly included the negation of the salaries of Twitter’s board directors. Job cuts were also part of his pitch to the banks. However, this would take off following complete ownership over Twitter.
Here’s what Elon Musk’s Twitter would look like
Elon Musk has an array of things planned for his Twitter ownership. According to Reuters, the banks were given an early glimpse of his version of Twitter. During the presentation, there were suggestions for charging a fee to third-party websites that wanted to utilize quotes or embed tweets from well-known organizations or verified identities.
Additionally, tweets that go viral or entail pertinent information would likely be monetized.
Furthermore, rumors about a new CEO for the firm were all over the social media space. While some claimed to be the interim CEO, a few others speculated that it would be someone from the crypto space. The sources suggested that Musk already has someone in mind. The current CEO Parag Agrawal urged the community to stay calm.
While Elon Musk hasn’t affirmed anything as of yet, the community eagerly awaits to get a glimpse of Musk’s Twitter.