Multiple major advertisers cut off their advertisement spending on X (Twitter) after Elon Musk’s endorsement of an antisemitic conspiracy theory on X.
In response to a user on X who had attributed the rise in online anti-Semitism to Jews, accusing them of promoting “hatred against whites”, Musk responded by saying, “You have said the actual truth.”
The billionaire CEO’s support of such content led to widespread criticism and raised concerns about the potential amplification of hateful narratives on social media platforms.
Disney said it was pausing spending on X, as did Lionsgate and Paramount Global. Apple, which spends tens of millions of dollars a year on X, also suspended advertising on the platform. They followed IBM, which cut its spending with X on Thursday.
An IBM spokesperson said Thursday that the tech giant would halt its online ad campaigns on X: “IBM has zero tolerance for hate speech and discrimination and we have immediately suspended all advertising on X while we investigate this entirely unacceptable situation.”