Elon Musk’s endorsement of an antisemitic post could lead to a significant loss of advertising revenue for social media platform X. According to internal documents from the company’s sales team, this endorsement could cost X up to $75 million the end of 2023, as advertisers pull their spending amid growing concerns over antisemitic content on the site.
The crisis has put X CEO Linda Yaccarino under intense pressure, with calls for her resignation from fellow executives in an attempt to salvage her reputation.
Elon Musk has faced widespread condemnation after he endorsed a post on X that accused Jewish communities of promoting hate against white people. The White House has described his actions as an “abhorrent promotion of antisemitic and racist hate.”
Major companies like IBM, Apple, Disney, and NBC have all paused their advertising on X, with more than 200 advertisers listed as either paused or “at risk” of pausing their spending on the platform. Big names such as Amazon, Netflix, and Coca-Cola are included in this list.
In response to the situation, X has claimed that only $11 million in revenue is at risk, and that this figure is likely to change as advertisers return to the platform. Yaccarino emphasized the company’s commitment to fighting antisemitism and protecting free speech in a note to X employees.
Given the severity of the situation, it remains to be seen how X will navigate the fallout from Musk’s endorsement and the resulting loss of advertising revenue.