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Elon Musk Tells Investors That Maybe It Will Double or Triple His Money If This Is the Rest of His Existence


The NYT reported that Elon Musk told investors he would probably double or triple his money if they backed his Twitter deal.

A source told the newspaper that he also told them that if all goes well they could see returns of five to ten times.

Elon Musk told investors he was confident he would double or triple their money if Twitter backed the $44 billion purchase, The New York Times reported.

In meetings with investors, Musk said he could see a return of five to ten times his investment if all went well, The Times reported, citing a person who heard Musk's pitch.

Before making a formal offer to buy Twitter, Musk said he had secured $46.5 billion in funding for the deal. A regulatory filing published Thursday showed that Musk had brought in a group of new backers, who together added $7.1 billion of funding to his bid.

Musk also told investors he could grow Twitter's user base to more than 500 million by 2025, four sources on Musk's investor pitches told The Times. According to two of those sources, Musk said he could more than double Twitter's revenue in the same time frame, and bring in millions of paid subscribers.

Musk said in a now-deleted tweet that Twitter may be rolling out a subscription service, meaning people can get blue "verified" check marks and not need to see ads on the platform.

Musk said in a tweet on Tuesday that Twitter may charge a "modest cost" from the government and commercial users for using the service. He added that Twitter will always be free for "informal users".

The Times reported that Musk told investors that he would serve as CEO of Twitter for a period of time. Sources also told CNBC Musk is expected to step down as interim CEO after the deal closes, which awaits regulatory approval.

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