Elon Musk reportedly wants to launch a new Twitter product called 'X' which he projects would have 104 million subscribers by 2028

According to his investor presentation obtained by The New York Times, Musk has a new product called "X" that he wants to sell on the micro-messaging service.

The pitch deck estimates that Product X would bring in 9 million users within the first year. According to the Times report, Musk projects 104 million users will subscribe to the product by the year 2028.

It is one of several ideas outlined in the billionaire's grand plan to quintuple the revenue of the company and quadruple the size of its user base, despite his previous claims that he does not care about the economics of buying the company.

If his $44 billion purchase is approved, the CEO of the electric car maker has mentioned a number of changes he will make to the social media app. There is an edit button and an ad-free version of Twitter.

According to the Times, the pitch deck described a payments business that Musk estimated would bring in 15 million dollars in revenue by 2023. Musk is one of the original co-founders of PayPal and Jack is the CEO of Square, both of which have experience in digital payments.

Musk didn't respond to Insider's request for comment on the product and what it might mean. In an April press release, Musk said he wants to improve the product with new features and make the algorithms open source to increase trust.

The board unanimously accepted Musk's offer of $54.20 per share on April 25. The deal is expected to close in 2022, subject to the approval of the stockholders, the receipt of applicable regulatory approvals, and the satisfaction of other customary closing conditions.