Elon Musk Details X’s Growth, Subscription Milestone and “X Money” Plans

$1 Billion Annual Run Rate for Subscriptions

Elon Musk has outlined new performance metrics and future ambitions for X during a recent all-hands meeting of the combined xAI and SpaceX teams.

One of the key announcements came from X’s head of product, Nikita Bier, who said the platform has reached a $1 billion annual run rate from X Premium subscriptions.

The subscription product has been central to Musk’s strategy since acquiring the platform. He has argued that paid subscriptions could reduce reliance on advertising revenue while discouraging spam by attaching a cost to account access.

Adoption, however, has appeared modest. Reports have suggested that roughly 1% of X’s total user base pays for Premium. Still, interest in X’s Grok AI tools has reportedly driven a recent increase in subscriptions.

Earlier in the day for comparison, Snapchat reported $750 million in revenue from Snapchat and subscriptions in 2025.

X reaching a $1 billion annual pace places it within a similar competitive range, though advertising remains its larger revenue source.

The “One Billion Users” Claim

Musk also spoke to X’s user base. He made a nuanced claim about reaching one billion users.

The platform has about 600 million monthly active users. Musk also says that more than one billion people have the X app installed on their devices. Musk also believes, many of those users engage only during major global events.

His broader vision is to make X compelling enough to drive daily usage at that scale. Musk said his expectation is that X could eventually exceed one billion daily active users as new features roll out.

However, internal figures appear inconsistent. Earlier in the week, Bier spoke of serving 500 million users in a customer support context.

Its not clear if active user count stands closer to 500 million or 600 million. The company does not currently have one billion active users.

Musk’s comments appear to reflect a long-term ambition and not the present reality, commentators believe.

Engagement and Content Trends

X reported strong engagement growth in early 2026. According to company figures, January saw a major spike in activity, with February expected to surpass it. First-time downloads are reportedly up 50%.

Long-form content has also expanded sharply. X said the number of long-form articles published on the platform has increased tenfold, while readership of those posts has risen 17 times.

Part of that surge may be linked to financial incentives. The company has offered a $1 million prize for the most popular long-form article, a move likely to stimulate participation.

X Money and the “Everything App” Vision

Musk also revisited plans for X Money, digital payments feature that he sees as central to transforming X into an “everything app.”

His goal is to replicate the multifunctional model of WeChat, where users can message, shop, and transfer money within a single platform.

Musk previously said he would be surprised if funds transfers were not operational by the end of 2024. That deadline passed without a public launch.

He now says X Money is operating internally and could launch publicly within two months. However, regulatory approvals remain a barrier.

X does not yet hold a money transmitter license in New York, a critical U.S. market, and approvals in other states are still pending.

A Key Piece of Musk’s AI Strategy

While X did not disclose new advertising figures, the updates offer insight into its broader evolution. The platform plays a strategic role in Musk’s AI ambitions, with user data feeding into xAI systems.

As Musk pushes forward with subscriptions, AI integration and digital payments, 2026 could prove pivotal in determining whether X can expand daily engagement and solidify its place in the next phase of social media.