- May 10, 2022
- Posted by: AliensFaith
- Category: OBJECTIVE PRESS
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Elon Musk may be the world’s richest person, but he still needs money from investors to buy Twitter for $44 billion. The CEO (and largest individual shareholder) of Tesla has promised to take the social media company private in a deal valuing Twitter 38% premium above the share price. In a pitch deck shown to investors in recent weeks, according to the New York Times, Musk has said he will cut Twitter’s reliance on ads to less than 50% of revenue (down from about 90%), while quadrupling Twitter’s user base and revenue to 931 million and $26.4 billion, respectively, by 2028.
