The New York Times reported on Friday that Elon Musk wants to grow Twitter's yearly income to $26.4 billion by 2028, up from $5 billion last year, citing a presentation deck handed to investors by the world's richest man.
According to the study, Musk expects advertising to account for 45 percent of overall income in 2028, down from about 90 percent in 2020, producing $12 billion in revenue, while subscriptions will provide another $10 billion.
According to the New York Times, the social media company's payments division will generate $15 million in 2023 and would climb to $1.3 billion by 2028.
Musk struck a deal last month to acquire Twitter for $44 billion in cash, in a move that will shift ownership of the social media site populated by millions of users and world leaders to the Tesla Inc boss.
Musk is poised to become Twitter's interim CEO when the buyout is completed, according to a source familiar with the subject, as the billionaire works to add investors to the transaction.
According to the New York Times, subscription income from Twitter Blue is estimated to earn $69 million by 2025.
Musk was unavailable for comment.
Twitter did not immediately reply to a request for comment from Reuters.
According to the publication, Musk expects to boost Twitter's average income per user to $30.22 in 2028, up from $24.83 last year.