Large Corporations are Refusing Advertising Contracts with X

American companies Apple, Disney, Comcast, Warner Brothers Discovery, Paramount telecom, and Lionsgate film studio have suspended their advertising contracts with a company owned by Elon Musk. 

This is reported by The New York Times.  

Elon Musk faced criticism after supporting a tweet from user X, who claimed that 'Jewish communities spread hatred against Whites' and want to replace the white population. Musk commented: 'You have said the actual truth.'

Later, Musk also stated that he opposes the Anti-Defamation League (a non-governmental organization of American Jews fighting anti-Semitism and other forms of intolerance towards Jews) and other groups 'that de facto promote anti-white racism, anti-Asian racism, or racism of any kind.'

Media Matters for America also published a report stating that ads from Amazon, NBA Mexico, NBCUniversal Catalyst, Action Network, and Club for Growth were found on X's platform alongside recognizable hashtags of white nationalists. 

The study also indicates that Elon Musk opened access to spreading hateful content by lifting bans for anti-Muslim fanatics, white nationalists, and anti-Semites. Company X likely encouraged extremists by redistributing three thousand dollars to a pro-Hitler account and an account denying the Holocaust through X's ad revenue-sharing program.

It's worth noting that the first advertiser to leave X's advertising space was the American IT company IBM after the social network placed ads from the company next to posts praising Hitler and Nazism. IBM planned to spend nearly a million dollars on X advertising by the end of 2023.

However, Apple, the largest former advertiser on X's platform, spent 50 million dollars on X advertising in just the first quarter of 2022.

Currently, X is valued at 19 billion dollars, although a year ago, Musk acquired it for 44 billion. That is, X's value has dropped by 55%.

Recall that The Gaze previously reported that the European Commission urged all executive services of the European Union to refrain from launching ads on Elon Musk's social network due to the danger of spreading misinformation.