Twitter owner Elon Musk could possibly be earning around $100,000 a month for himself through the new 'Subscriptions' feature launched on the microblogging platform.
Musk, in a tweet on April 24, shared a screenshot to explain how content creators can monetise their accounts using the new feature.
In Musk's screenshot, it was revealed that at least 24,700 Twitter users have subscribed to his account for exclusive content.
The Subscriptions feature allows content creators on Twitter to charge a special monthly fee for their subscribers, in lieu of providing them with exclusive content such as long-form videos, long-form text, and subscriber-only Spaces.
As per Musk's profile, his subscribers are levied a charge of $4 a month. The amount, multiplied by 24,700 -- the number of subscribers to his account --- shows that he could earn at least $98,800 per month.
Musk, once the world's richest person, now stands at the second position with a net worth of $164 billion, according to Bloomberg Billionaires Index. The top rank is held by LVMH's Bernard Arnault.
Apart from Twitter, Musk heads four other companies - Tesla, SpaceX, The Boring Company, and Neuralink. The billionaire had added the social media giant to his portfolio in October last year, after acquiring it for $44 billion.
Since the acquisition came into effect, Musk has implemented sweeping changes, including the introduction of Twitter Blue, which has replaced the verification of accounts on the basis of authenticity to that in lieu of a payment of $8/month or $84/year.
Musk has also drastically reduced the workforce, with around 50 percent of Twitter's 7,500-strong employee count being laid off within a couple of months of the acquisition. A high number of employees left in January-February, after Twitter reportedly gave them an ultimatum with "extreme hardcore" targets.
The company currently has 1,500 employees, which is 80 percent lower as compared to the pre-acquisition period.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
