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Elon Musk has informed banks that he will limit Twitters compensation and use tweets to generate revenue
According to three individuals familiar with the situation, Elon Musk promised banks that agreed to help fund his $44 billion acquisition of Twitter Inc that he may cut executive and board compensation at the social media business to minimize expenses, and that he would discover new methods to monetize tweets.
According to the individuals, Musk made the pitch to bankers as he attempted to arrange funding for the buyout days after submitting his bid to Twitter on April 14. His financial pledges, which he submitted on April 21, were crucial in Twitter’s board accepting his “best and last” bid.
Musk would have to persuade banks that Twitter’s cash flow was sufficient to cover the loan he was seeking. In the end, he received $13 billion in loans guaranteed by Twitter, as well as a $12.5 billion margin loan secured by his Tesla equity. He promised to pay the remaining amount out of his pocket.
Asper to the sources, Musk’s pitch to the banks was more of a vision than a definite pledge, and the precise cost reduction he would seek once he buys Twitter is unknown. According to the sources, the proposal he detailed to banks lacked specificity.
Musk has tweeted about cutting the wages of Twitter’s board directors, which he claims will save the company $3 million. According to corporate documents, Twitter’s stock-based compensation for the 12 months ended December 31, 2021, was $630 million, up 33% from 2020.
Musk also used Twitter’s gross margin, which is substantially lower than peers like Meta Platform Inc’s Facebook and Pinterest, in his presentation to the banks, claiming that this gives plenty of room to run the firm more cost-effectively.
Because the topic is private, the sources requested anonymity. Musk’s spokesperson declined to comment.
According to Bloomberg News, Musk expressly highlighted job cutbacks in his pitch to the banks on Thursday. According to one of the insiders, Musk will not make any decisions about employment layoffs until he takes control of the firm later this year. He moved forward with the purchase despite not having access to private information about the company’s finances or headcount.
According to the individuals, Musk told the banks that he wants to build features to boost company income, including new methods to monetize tweets that contain significant information or go viral.
Elon Musk, according to sources familiar with him, will assist banks in selling syndicated loans to investors. According to reports, he may also reveal additional specifics about his Twitter business strategy later this year. The premium Blue service from Facebook now costs $2.99 ($3.99) per month. He has also hired a new CEO for Twitter, according to Reuters sources close to the company. Because of Musk’s unpredictability, several banks declined to participate in a $13 billion margin loan, according to the sources. By 2022, the loans would be worth seven times Twitter’s estimated revenues.
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Navi Mumbai Jewellery Heist: Police Make Another Arrest
Suspect allegedly kept watch while accomplices broke through wall and entered jewellery shop.
The Case
The police have made another arrest in connection with the burglary at a jewellery shop in Kopri village, Vashi, where thieves escaped with silver ornaments worth around Rs 6 lakh.
The incident took place at Meghana Jewellers in Sector 26A during the early hours of Friday. According to the police, the accused had rented the shop next to the jewellery store, allegedly posing as fruit sellers. They then made a hole through the common wall to gain entry into the jewellery shop.
The burglars reportedly stole around 2.5 kg of silver articles kept on display. They also attempted to open the shop’s safe, which contained gold jewellery. However, the alarm went off, forcing them to abandon the attempt and flee.
Police said the thieves may have taken advantage of the loud music and drums during a Ganpati immersion procession, which helped mask the sound of drilling and breaking the wall. CCTV footage helped investigators trace the suspects. One accused was arrested from Mankhurd and police suspect that he was keeping watch outside while the others entered the shop.
Investigators have identified three more suspects, including the person who had rented the neighbouring premises. Police said all four suspects are from Jharkhand. A search is underway for the remaining accused, while efforts are also being made to recover the stolen jewellery. The investigation is being conducted by the APMC police, who are examining CCTV footage and other evidence to establish the full sequence of events.
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Ganesh Naik Criticizes Rahul Gandhi Over Election Commission Claims
Maharashtra minister says attempts to create distrust in constitutional institutions will not succeed.
The Criticism
Maharashtra Forest Minister Ganesh Naik has criticised Congress leader Rahul Gandhi over his statements concerning the Election Commission, saying that attempts to create distrust in constitutional institutions will not succeed.
According to Naik, recent statements by the three Election Commissioners showed that decisions related to the election process, including the Special Intensive Revision (SIR) of electoral rolls, were taken collectively. He said there were no differences among the commissioners on these decisions.
Naik also questioned Rahul Gandhi’s repeated criticism of constitutional institutions. He alleged that a letter sent to the Cabinet Secretary, which was linked to a deputation-related appointment, was being presented as evidence of differences within the Election Commission. The minister also spoke about Form 6, used for voter registration, and said confusion was being created around its use. He maintained that the form is being used in accordance with the applicable process.
Naik further referred to Congress victories in states such as Telangana, Punjab, Himachal Pradesh and Karnataka, asking why the Election Commission was accepted when the party won but questioned when it lost. The remarks come amid a wider political dispute over electoral rolls, SIR and the functioning of the Election Commission. Rahul Gandhi and Congress leaders have raised allegations concerning the electoral process, while the BJP and Election Commission have rejected those allegations.
Naik said public confidence in constitutional institutions should be maintained and that electoral rolls should be made more accurate and transparent through established procedures.
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Over 2,000 Join Mangrove and Waterfront Cleanup Drive in Navi Mumbai
NSS students and citizens come together to remove waste and protect the city’s coastal environment.
The Drive
More than 2,000 NSS students and local residents came together for a citywide cleanliness drive aimed at protecting Navi Mumbai’s mangroves, creeks and waterfront areas. The initiative was organised by the Navi Mumbai Municipal Corporation’s (NMMC) Solid Waste Management Department under the ‘Seva Sankalp Abhiyan – Swachhata Hi Seva’ campaign. The drive focused on removing waste from environmentally sensitive coastal locations and creating greater awareness about keeping water bodies clean.
One of the major cleanup activities was held at the Dolaya coastal area in Karave, where students, residents and civic officials participated in the drive. Similar activities were conducted at Diwale Jetty in Belapur, Sarsole Jetty in Nerul, Vashi Jetty, Turbhe Lake, Dharan Lake in Kopar Khairane, Ghansoli Jetty, Airoli Jetty and Digha Lake. Volunteers collected plastic waste, glass bottles, footwear and other non-biodegradable material that had accumulated along creek banks and mangrove areas.
Students from colleges in Nerul, Vashi, Airoli, Kopar Khairane and Kharghar actively participated. Along with cleaning the areas, volunteers took a cleanliness pledge and urged citizens to avoid dumping waste into lakes, creeks and other water bodies. The campaign, being held from September 17 to October 17, 2026, is part of NMMC’s wider efforts to encourage public participation in cleanliness and environmental protection.
The large turnout showed how students and citizens can play an important role in keeping Navi Mumbai’s natural spaces clean and healthy.
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