Elon Musk Lashes Out at Advertisers Leaving X Platform Over Antisemitic Posts

According to Cointelegraph, billionaire entrepreneur Elon Musk made headlines with an expletive-laden outburst on live TV at the 2023 DealBook Summit in New York on November 29. Musk, the owner of micro-blogging platform X (formerly Twitter), criticized advertisers leaving the social media site due to antisemitic posts he amplified there. He has since apologized for endorsing what the White House labeled as "antisemitic and racist hate" on the platform and deleted the tweet. When interviewer Andrew Ross Sorkin asked about advertisers leaving the platform, Musk responded with profanity and stated that the advertising boycott would kill the company. He also addressed Disney CEO Bob Iger, whose company was one of several advertisers that have left X. A report from The New York Times suggested that up to $75 million in revenue could be in jeopardy from over 200 advertisers, including Airbnb, Coca-Cola, and Microsoft. Media Matters reported finding ads for Apple, Bravo, Oracle, Xfinity, and IBM next to posts that tout Hitler and his Nazi Party on X. According to a November 25 NPR report, the platform has lost 50 of its top 100 advertisers since Elon Musk took over. Big-name brands like Ford, Verizon, Chevrolet, Chipotle, and several pharmaceutical companies such as Merck have pulled advertising in recent months. Crypto adviser Aubrey Strobel noted that CNBC did not expect Musk's outburst, resulting in a violation of FCC guidelines and a potential fine for the network.