Elon Musk told investors he'd probably double or triple their money if they backed his Twitter buyout, report says

The New York Times reported that Musk told investors he would double or triple their money if they backed his deal.

According to The Times, Musk said in meetings with investors that they could see returns of five to ten times their investments if all went well.

Musk said he had secured $46.5 billion in financing for the deal before making his formal offer. A regulatory filing published Thursday showed that Musk had brought in a raft of new backers who together added $7.1 billion financing to his bid.

Four sources briefed on Musk's investor pitches told The Times that Musk told them he could double the number of users of the micro-messaging service. According to two of those sources, Musk said he could more than double the revenue of the micro-messaging service in the same time frame.

Musk mused that people could get blue check marks and not have to see advertisements on the platform if it launched a subscription service.

Musk said that the service could be free for government and commercial users. He said that it would be free for casual users.

According to The Times, Musk told investors that he would stay on as CEO of the company. Sources told CNBC that Musk is expected to take over as interim CEO after the deal is approved.