In order to verify accounts, Twitter plans to start charging $20 each month.

The world’s richest man, Elon Musk, is planning to revamp the social media network and is considering charging Twitter users $20 (£17.30) per month or $240 per year for a blue tick on their account.

According to the tech journal Platformer, the CEO of Tesla plans to increase the $4.99 monthly cost of Twitter’s Blue subscription service to $19.99.

Users who have been validated by the platform and have a blue tick designating them as reliable sources would have 90 days to join Blue or risk losing their check mark.