Commercial and government users’ accounts on Twitter may have to pay a “slight” fee to stay on the platform, Tesla CEO, Elon Musk, has said.
Mr Musk said this Wednesday, a week after Twitter agreed a definitive deal to sell itself to Mr Musk, the world’s richest man, at approximately $44 billion.
Mr Musk, however, said in a post that the platform will continue to be free for “casual users.”
“Twitter will always be free for casual users, but maybe a slight cost for commercial/government users”, Mr Musk said in a tweet.
“Some revenue is better than none”, he added.
Mr Musk currently owns 73,486,938 shares of Twitter, which represents a 9.2 per cent stake in the company, according to the US Securities and Exchange Commission (SEC)13G filing.
On April 14, Mr Musk said he had offered to buy 100 percent of Twitter for $54.20 per share in cash.
Upon completion of Twitter’s sale, the company will become a privately held.
It is the biggest social media acquisition, surpassing the $26.2 billion buyouts of Linkedin by Microsoft.
Mr Musk said he wanted to make Twitter better than ever by enhancing the product with new features
About the Author
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
