Elon Musk on Tuesday revealed that he has 24,700 subscribers who are paying him at least $4 a month each individually.Angel investor Alex Cohen did the maths and tweeted that with each subscriber paying him $4 a month, the Twitter CEO is generating around $1.2 million a year "in passive income".
"It's literally this simple to achieve financial independence and retire early," Cohen tweeted.It means Musk, who has 136.5 million followers, is making at least $98,800 a month via his subscribers.
The Twitter CEO shared a screenshot where he revealed he has 24.7K subscribers.
"Content creators may wish to enable subscriptions on this platform. Just tap on Monetisation in settings," he posted.Earlier this month, Twitter said it will allow its users to charge for access to their content like long-form text or long length videos.
Creators will be allowed to set the price of their Subscription offering by choosing from one of three price points made available by Twitter $2.99, $4.99, or $9.99, according to the company.Musk said that for the next 12 months, Twitter will not keep any money from users, which they will earn from their monetised content.
"You will receive whatever money we receive, so that's 70 per cent for subscriptions on iOS & Android (they charge 30 per cent) and 92 per cent on the web (could be better, depending on payment processor)," he added.
However, after the completion of 12 months, the iOS and Android fees will drop to 15 per cent, and the company will add a smaller amount on top of that based on volume. The tech billionaire also mentioned that the company will also help promote the work of creators on the platform.