Washington: Elon Musk is contemplating to quintuple the annual revenue of Twitter to $26.4 billion by 2028.

According to The New York Times, Elon Musk, the American billionaire and founder of electric car-making company Tesla and spacecraft manufacturing company SpaceX, would quintuple Twitters revenue which was $5 billion in 2021.

Musk is also planning to cut Twitters dependence on advertisement to 45 per cent of total revenue, as he feels that the advertisement by 2028 will generate $12 billion revenue and subscriptions some $10 billion. The other revenue would be generated from different businesses, he opined.

He also expects to increase average revenue per user to $30.22 in 2028. Musk entered into an agreement with Twitter in April for its acquisition for 54.20 dollars per share in a transaction valued at around 44 billion dollars.