Time in Yerevan: 11:07,   21 April 2024

X may lose up to $75 million in revenue after Musk's 'antisemitic' remarks

X may lose up to $75 million in revenue after Musk's 'antisemitic' remarks

YEREVAN, NOVEMBER 25, ARMENPRESS. Elon Musk-run X could lose as much as $75 million in advertising revenue by the end of the year as dozens of major brands pull out their marketing campaigns after the tech billionaire endorsed an antisemitic conspiracy theory this month, The New York Times reported on Friday.

According to the internal documents seen by The New York Times this week, over 200 ad units of companies from the likes of Airbnb, Amazon, Coca-Cola, Microsoft, and others have halted or are considering pausing their ads on X.

Musk's support for an antisemitic message on the platform last week prompted numerous firms, including Walt Disney and Warner Bros Discovery, to halt advertising on the X.

On Friday, X said in a statement that $11 million in revenue was at risk and that the exact figure fluctuated as some advertisers returned to the platform and others increased spending. The company said the numbers viewed by The Times were either outdated or represented an internal exercise to evaluate total risk.

Meanwhile, a new report has revealed that some super-spreaders of misinformation on X, who are verified premium users with blue badges, are sharing Musk’s ad revenue even after making conspiratorial claims about the Israel-Hamas war.


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