TECH - Elon Musk's X Could Lose $75 Million In Ad Revenue Over His Support For Antisemitic Post Says Report | Benzinga
Social media platform X, which is owned by Elon Musk, is potentially facing a substantial loss in advertising revenue.
What Happened: Recent developments suggest a downturn of up to $75 million by year's end, as major advertisers reconsider their engagement with the platform, The New York Times reported.
Triggered by Musk's endorsement of an antisemitic post, prominent companies like Walt Disney (NYSE: DIS) and Warner Bros Discovery (NASDAQ: WBD) have temporarily halted their advertising campaigns on X.
According to the report, internal documents reveal that more than 200 ad units from companies like Airbnb Inc. (NASDAQ: ABNB), Amazon.com Inc. (NASDAQ: AMZN), Coca-Cola Company (NYSE: KO), and Microsoft Corporation (NASDAQ: MSFT) were reevaluating ...