The founders of Tesla and SpaceX have told banks that they will reduce the salaries of the board and executives to reduce the company's costs. This is the same bank that is helping Musk in funding $44 billion to buy Twitter. Apart from this, Musk will also earn money from monetization of tweets. Musk has said these things in his pitching for funding from banks.
Bank approves $13 billion loan
With his pitching, Musk managed to convince the banks that he would repay his loan. After this the banks agreed to give him a loan of $ 13 billion. In addition, Musk also managed to raise a margin loan of $12.5 billion against Tesla stock. He will raise the remaining amount for the Twitter deal from his own pocket.
Musk has tweeted about reducing the salary of the Twitter board director. Musk believes that this will save about $3 billion.
You will have to pay for embedding or quoting verified tweets. He also talked about charging money from third party websites for embedding or quoting verified tweets. Also, Musk had suggested changes to the Blue Tick premium subscription service, including its pricing. Currently, the cost of Twitter Premium Blue service is $2.99.
employees may be on leave
A Bloomberg report also said that Elon Musk had floated the idea of job cuts during a fund-raising pitch for Twitter. However, there has been no response from Twitter on such discussion so far. Elon Musk is trying to make Twitter a money-making company like Facebook in the coming times. For this he is constantly churning.
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