Sunday, May 22, 2022
awazetribune

awazetribune

Elon Musk plans to reduce Twitter executive pay and monetize tweets.

Elon Musk plans to reduce Twitter executive pay and monetize tweets.

According to Reuters, eccentric billionaire Elon Musk intends to rob Twitter's board of directors of their salaries, reduce executive stipends, and profit from ordinary posts.  Musk made the commitments to banks before they backed his $44 billion purchase of the social media network on April 21.  According to Reuters, the pledges are more imaginative than solid, yet they were sufficient to get $13 billion and $12.5 billion in loans.  The remainder of Twitter's exorbitant price tag will be paid out of his own pocket.  Musk previously stated that reducing board remuneration would cost the firm approximately $3 million each year.  If the purchase is completed, Musk will become the sole owner of Twitter in late 2022.

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