Twitter might be adding a tweets monetization feature as Elon Musk is seeking new options to grow business revenue and to run the company in a more cost-efficient way, Reuters has learned, referring to people familiar with the matter.
According to the sources, Elon wants to find a way to monetize tweets that might contain important information or go viral. For instance, Twitter could charge a fee when a third-party website wants to quote or embed a tweet from verified individuals or organizations.
Elon also stressed Twitter's gross margin, noting this leaves plenty of space to run the company in a more cost-efficient way. According to Reuters, the Tesla CEO also plans to cut payments to Twitter's board of directors and to executive stipends. Yet, sources pointed out that Elon won't make any decisions on job cuts until he gets full ownership over the company later this year.
Although no final decision has been made yet and the plan itself lacked details, Elon has reportedly already described his vision to banks that helped him to fund his $44 billion acquisition of Twitter with $13 billion in loans.
As To The Moon previously reported, Elon Musk acquired Twitter, paying a whole sum of approximately $44 billion, or $54.20 per share. We tried to sort through various opinions to find out what people think about one of the noisest takeovers of this year.