Elon Musk’s Twitter pitch deck shows he plans to quintuple revenue and debut a mysterious new product, NYT reports
After his planned $44 billion acquisition of Twitter is completed, Elon Musk has grandiose plans that include quintupling the company's revenue by 2028 and generating nearly $50 million from a mysterious product referred to as "X Subscribers," The New York Times, which obtained his pitch deck for investors, reported Friday.
Among the claims in the deck, according to The Times:
He'll quintuple revenue to more than $26 billion by 2028. Last year, revenue was $5 billion.
He'll cut the social media platform's reliance on advertising, which will comprise less than half of revenue by 2028.
He'll add nearly $70 million in revenue by 2025 "Twitter Blue," a premium service introduced last year that lets members customize their experience for $3 a month.
He'll generate nearly $50 million from a mysterious product called "X Subscribers," also by 2025. Musk has previously suggested introducing an ad-free experience, which may be related, The Times pointed out.
He'll hire nearly 4,000 employees by 2025, up from around 7,500 now.
Fortune reported Friday that Twitter is worried about retaining current employees and recruiting new ones, according to a Monday SEC filling. Musk threatened last month to slash board members' pay to $0, Fortune previously reported.
The Twitter acquisition is expected to close later this year.
This story was originally featured on Fortune.com