Elon Musk, the billionaire owner of X (formerly Twitter), has ignited a fiery exchange with advertisers boycotting the platform due to his endorsement of an antisemitic post.
In a profanity-laced tirade during the ‘New York Times’ DealBook Summit, Musk targeted major companies like Disney, warning that the advertising boycott could spell the end for X.
Elon Musk’s Bold Response
In a candid conversation with journalist Andrew Ross Sorkin, Musk didn’t mince words, urging advertisers attempting to blackmail him with money to “go f— themselves.”
He specifically called out Disney CEO Bob Iger, who earlier expressed reservations about associating with Musk and X.
Musk boldly stated that the advertising boycott could potentially “kill the company,” vowing to document the demise in detail for the world to witness.
Roots Of The Boycott
The controversy stems from Musk’s resharing of an X post in November, endorsing a claim that Jewish people are fostering hatred against white individuals.
This prompted a wave of backlash, leading major U.S. companies, including Apple, Coca-Cola, Warner Bros Discovery, and Comcast, to suspend their ads on X.
Even the White House condemned Musk’s post for promoting antisemitic and racist hate.
Musk’s Apology and Unyielding Attitude
Despite apologizing at the DealBook Summit, acknowledging his actions as “foolish,” Musk continued his profanity-laced tirade against the advertisers that deserted the social media platform. When questioned about potentially causing X’s downfall, Musk defiantly replied, “Let’s see how Earth responds to that.”
The advertising freezes on X may come at a steep price, with internal documents suggesting a potential $75 million loss in advertising revenue by year-end.
U.S. advertising on the platform has seen a drastic 60% decline this year, prompting CEO Linda Yaccarino to work on reversing the trend.
CEO’s Perspective and X Community Response
In response to Musk’s interview, CEO Linda Yaccarino posted an X update, emphasizing the platform’s unique intersection of Free Speech and Main Street.
She thanked partners supporting X’s meaningful work and expressed gratitude to the powerful X community, inviting others to join.
Elon Musk’s clash with advertisers and the looming financial impact on X underscores the volatile intersection of free speech, controversy, and corporate partnerships.
As the platform faces potential financial repercussions, the world watches to see how Musk’s unapologetic stance shapes the future of X.