World’s richest man and serial innovator, Elon Musk, has hinted that upon completion of his latest acquisition, Twitter, users would pay a fee to access and operate the platform.
Current situation
The microblogging app has evolved from being a regular social media app to being a marketing tool for businesses, corporate societies, and many more.
- Twitter has a benchmark of about 206 million users per day and an all-time user base of 396.5 million.
- Elon Musk is looking to generate revenue from the social app by charging businesses and the government a slight fee for usage.
In case you missed it
- Elon Musk bought Twitter for $43 million just after acquiring 9.1% of stake in the company.
- The tech guru also placed Twitter stock at $54.20 per share.
What they are saying
Elon Musk on Twitter assured users that the platform would be free to casual users while government and commercial users would have to pay a fee. He also promised to unlock the full potential of the microblogging app.
Meanwhile
The billionaire tech guru has decided to stop the sale of his personal shares. He sold his recent sell off of stock worth $4 billion off in 48 hours. This slumped TESLA’s market capitalization from $1 trillion to 906.91 billion.