Elon Musk hinted at a modest fee for both government and commercial users to increase Twitter’s capital, far behind Meta platform rival Facebook.
In a statement on Twitter, Elon Musk said: “Twitter will always be free for ordinary users but commercial and government users may have to pay a nominal price.”
“Simple capital is better than nothing,” he said.
According to reports, Twitter declined to comment when contacted.
Last week, Reuters reported that Elon Musk had told banks that they would develop new features to monetize tweets and that social media platforms would be used to reduce the company’s costs.
Elon Musk also told banks that they have plans for features to increase business capital, including a new way to make money from tweets that are based on important information or go viral.
Elon Musk said at the annual Met Gala in New York that Twitter is just an “activity” at the moment and he wants a large number of people in the country to be on it.
Elon Musk, owner of Tesla Inc., the world’s largest electric vehicle maker, has been proposing major changes to Twitter over the past month.
He tweeted his suggestions but later deleted them.
He suggested changes to the Twitter Blue Premium subscription service, including a ban on advertising, and said that cryptocurrency should be offered for payment.
Elon Musk said last week after signing a 44 44 billion deal to buy Twitter that he wanted to improve the platform with more features.
He said he wanted to make the algorithm open source, disable spam bots and make it authentic to all human beings to increase trust in Twitter.