Elon Musk earns $1.2 million from Twitter subscribers: Check how here

Twitter CEO Elon Musk has revealed that he has 24,700 subscribers who pay him at least $4 a month each individually. It means he is earning $1.2 million from his subscribers in a year.

Photo Credit: Photo credit: PTI

Musk on Tuesday posted a screenshot that revealed that he has said numbers of subscribers. "Content creators may wish to enable subscriptions on this platform. Just tap on Monetization in settings," he said.

With each subscriber paying Musk $4 a month, the Twitter CEO is making around $1.2 million a year "in passive income", Angel investor Alex Cohen did the maths. "It's literally this simple to achieve financial independence and retire early," he tweeted.

"On the other hand, I have 14 subscribers and generate $70/mo in passive income. This is almost enough to give every US Citizen a million dollars. Subscribe and help me catch up to @elonmusk," Cohen said in his follow-up tweet.

What is Twitter Subscription?
It is a service that allows content creators on Twitter to earn monthly income from the content they create. They may get paid a share of the revenue that the social media platform earns.

"If you are selected to participate in the Subscriptions program, people on the platform can pay Twitter to Subscribe to you. They'll receive access to perks you include in your offering, such as bonus content and direct interactions with you. When Subscribers reply to you, you'll see a badge next to their name so it's easier to identify and connect with them," Twitter says about the service.

The company had announced earlier this month that Twitter will allow its users to charge for access to their content like long-form text or long-length videos. Interestingly, users will have the option to fix the subscription fee of 2.99, $4.99, or $9.99 per month.

Meanwhile, Twitter has recently done away with free 'blue ticks' to prominent celebrities, politicians and other people from society. They have to pay in order to get the verification badge.