Elon Musk’s Pitch for Twitter Includes Major Employee Turnover, Massive Revenue Increases

The New York Times recently reported on what Tesla CEO Elon Musk is projecting for the future of Twitter as he plans his takeover of the company. The information comes from a pitch deck Musk used to court outside investors to join his successful takeover bid for the platform.

The New York Times reports that Elon Musk has been providing insight into his projections for the future of Twitter in his pitch deck to potential investors. Musk has reportedly been presenting a pitch deck to investors recently, outlining his plans for Twitter including financial targets and expected figures.

Here are some of Musk’s predictions for the company:

Increase Twitter’s revenue to $26.4 billion by 2028

Musk reportedly plans to increase the social media company’s annual revenue to $26.4 billion by 2028, an increase of $5 billion from last year.

Reduce Twitter’s reliance on advertising

Musk is reportedly unhappy with how much of Twitter’s revenue is dependent on advertisers. He aims to drop advertising to just 45 percent of total revenue, a reduction from around 90 percent in 2020. Other revenue would come from new businesses including data licensing and paid premium accounts.

Generate $15 million from a payment business

Currently, Twitter’s revenue from its payments business which includes tipping and shopping is negligible. Musk plans to generate $15 million from this division in 2023, growing it to around $1.3 billion by 2028.

Reach 931 Million Users by 2028

Musk hopes to grow Twitter’s userbase significantly, anticipating that Twitter’s total userbase will grow from 217 million at the end of 2021 to almost 600 million in 2025 and 931 million six years from now. A lot of this hinges on the Twitter Blue product, which allows users to pay $3 a month to customize their experience on Twitter. Musk reportedly expects 69 million users of Twitter Blue by 2025 and 159 million by 2028. He apparently didn’t comment on how his much-publicized desire to fight Twitter’s bot account problem will interfere with this massive increase.

Introduce “Product X” and generate huge subscriber numbers

Musk reportedly plans to launch a mysterious new product simply called X which would aim to have 104 million users in 2028, according to Musk’s pitch deck. The product also shows up in Musk’s predictions for 2023, with nine million users expected in its first year.

Employee turnover

Musk estimates that Twitter will have 11,072 employees by 2025, a major increase from the 7,500 it has today. Musk further expects the number to rise and fall, hitting 9,225 employees in 2022 and declining to 8,332 in 2023 before increasing. It seems likely Musk will fire current Twitter employees as he takes over the company and hires new talent.

Read more at the New York Times here.

Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter @LucasNolan or contact via secure email at the address lucasnolan@protonmail.com