American billionaire and Tesla CEO Elon Musk says Twitter Inc. may charge a slight fee for commercial and government users.
"Twitter will always be free for casual users, but maybe a slight cost for commercial/government users," Musk said in a tweet.
Twitter will always be free for casual users, but maybe a slight cost for commercial/government users— Elon Musk (@elonmusk) May 3, 2022
Last week Musk told banks that agreed to help fund his $44 billion acquisition of Twitter Inc. that he could decrease executive and board pay at the social media company in a push to slash costs, Reuters reported quoting three people familiar with the matter.
He also said he would develop new ways to monetize tweets.
Musk submitted his offer to Twitter on April 14, the sources said. His submission of bank commitments on April 21 were key to Twitter's board accepting his "best and final" offer.
He had to convince the banks that Twitter produced enough cash flow to service the debt he sought.
Musk clinched $13 billion in loans secured against Twitter and a $12.5 billion margin loan tied to his Tesla Inc. stock. He agreed to pay for the remainder of the consideration with his own cash.
According to a report, leaked internal communications by Twitter employees reveal woke employees are overtaken by despair and anger about Musk’s effort to take over Twitter.
Some Twitter employees vented against the new owner on the business communication platform Slack, leaked messages reveal, according to New York Post.
“Physically cringy watching Elon talk about free speech,” a site reliability engineer wrote.
“We’re all going through the five stages of grief in cycles and everyone’s nerves are frazzled,” wrote a senior staff software engineer and tried to console his colleagues. “We’re all spinning our wheels, and coming up with worst-case scenarios (Trump returns! No more moderation!). The fact is that [Musk] has not talked about what he’s planning on doing in any detail outside of broad sweeping statements that could be easily seen as hyperbolic showboating.”
A senior staff video engineer announced he would be quitting, “Not the place to say it perhaps, but I will not work for this company after the takeover.”