Musk Plans To , Slash Twitter <br />Board Salaries, <br />Monetize Tweets, Sources Say.<br />Reuters reports that Elon Musk made the assertions <br />in an effort to secure funding from lenders...<br />... as part of his $44 billion buyout of the social media platform.<br />Reportedly, Musk stated he will significantly cut executive and board pay.<br />and committed to developing new systems for the monetization of tweets on the platform.<br />A spokesperson for Twitter has yet to respond to news of the development.<br />Musk has reportedly secured $13 billion in lending in order to buy Twitter.<br />He acquired an additional $12.5 billion margin loan that is hitched to his own stock in Tesla.<br />Musk will reportedly use personal cash for the remaining $18.5 billion.<br />The entrepreneur is reportedly worth $246 billion.<br />Sources say that Musk's pitch to banks about slashing salaries and monetizing tweets <br />does not represent binding commitments.<br />In a recently-deleted tweet, Musk hinted that he intended to shift Twitter's business model away from ad-generated revenue.<br />Musk recently announced his offload of nearly <br />$8.5 billion worth of Tesla shares.<br />It is widely assumed that selling Tesla stock will help to pay the $44 billion Twitter price tag.<br />Bank officials are reportedly cautious due to fear that lead Twitter talent will leave in the company once Musk's acquisition of the platform has been finalized
