Musk announces monthly charge for verified Twitter accounts

New Twitter head Elon Musk said the site will charge $8 per month to verify users' accounts, arguing the plan would solve the platform's issues with bots and trolls while creating a new revenue stream for the company.

The announcement comes only days after the world's wealthiest man took sole control of the social media giant in a contentious $44 billion deal.

"Power to the people! Blue for $8/month," Musk, who has styled himself as a free-speech champion, tweeted, in reference to the platform's paid subscription service, Twitter Blue.

Under the new plan, paid subscribers would receive Twitter's famous blue checkmark that signals a verified, authentic account.

That feature is currently offered only to public figures, an approach Musk described as a "lords & peasants system."