BREAKING NEWS

Musk plans to increase Twitter's revenue to $26.4 billion by 2028

Elon Musk is claiming that he can increase Twitter's annual revenue to $26.4 billion by 2028, up from $5 billion last year, the New York Times reported on Friday, citing a pitch deck presented by the world's richest man to investors.

Advertising will fall to 45% of total revenue under Musk, down from around 90% in 2020, generating $12 billion in revenue in 2028 and subscriptions will generate $10 billion, according to the report.

Musk is also expecting $69 million in subscription revenue from Twitter Blue, the NYT reported.

Musk could not be immediately reached for comment. Twitter did not immediately respond to Reuters' request for comment.

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