Elon Musk wants to make X paid

Elon Musk, the owner of the X social network (formerly Twitter), announced that he intends to make the platform paid. As CNBC informs, the businessman made this statement during a meeting with Israeli Prime Minister Benjamin Netanyahu.

According to Musk, the monthly fee for using the social network will be "small" and will be invested in fighting "bot armies". The businessman said that X is used by 550 million people per month, who publish 100 to 200 million posts per day.

X already has paid options for both companies and users who want to have an authentication check.

After buying the social network last year, Musk made a number of changes, cut more than half of the employees, which caused concern about the operations and security of the social network. Against the background of the changes taking place, the advertising revenue of the social network also decreased, and in an attempt to tackle the issue, the company offered discounts and even threatened that it would remove the golden checkmarks from the pages of the companies if they did not show activity and start spending money on advertising.

In July of this year, the company offered advertisers a 50 percent discount on certain types of ads with the ability to appear on the most discussed topics on X for 24 hours. It was announced that the discount is valid until July 31. And before that, advertisers were expected to spend money on the platform to maintain their gold benchmarks. For this, the company set minimum spending amounts of $1,000 in the last 30 days, or $6,000 in the last 180 days.