May 9, 2022 - Technology

Elon Musk's goals for Twitter are beyond ambitious

Ina Fried

An illustration of Elon Musk holding the Twitter bird — Photo illustration: Sarah Grillo/Axios. Photo: Britta Pedersen-Pool/Getty Images

Elon Musk envisions a Twitter that is able to more than quadruple its revenue and user base by 2028, while cutting its dependence on advertising, the New York Times reported on Friday, citing a leaked slide deck.

Why it matters: The documents show that Musk imagines himself as able to produce financial growth unlike any the company has seen in its history.

By the numbers: Here are Musk's targets, per the Times:

Boost annual revenue to $26.4 billion by 2028, compared to $5 billion last year.
Get to nearly 1 billion users. Musk's goal is 600 million users by 2025, up from 217 million last year, and 931 million by 2028.
Cut the percentage of revenue from ads to 50%. (Ads were about 90% of revenue in 2020, the Times notes.)
Boost paid subscriptions, including growing Twitter Blue (currently $3 per month) to 69 million paying users by 2025 and 159 million by 2028.

Catch up quick: The Twitter purchase is a financial stretch even for the world's richest man.

Musk is offering $44 billion, or $54.20 per share, for Twitter.
Some of that money is coming from Musk's sale of Tesla shares, while Musk has also arranged other funding commitments, including foreign and domestic investment.
Funding will also come from loans Twitter itself takes out to pay back current shareholders.

Yes, but: Both Musk and pitch decks are known for making overly rosy predictions.

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Elon Musk's goals for Twitter are beyond ambitious

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