- Elon Musk landed in trouble after apparently endorsing an anti-Semitic post on X.
- Since then, many advertising agencies and large companies have removed their content from the site.
- According to The New York Times, Disney is the latest megacorporation to announce its exit.
Elon Musk’s response to anti-Semitic comment about X comes with a high price, as many large companies are pulling their advertising from X.
Disney is the latest company to follow suit. On Friday, he stopped all spending on X, according to The New York Times.. The company did not immediately respond to Business Insider’s request for confirmation.
The situation initially unfolded this week when Musk responded to a post that claimed Jews spread “white hatred.”
After consulting with the user, Musk wrote the outlandish claims American children were badly raised about how the country participated in slavery.
He also replied “Exactly” to the user who posted with this suggestion “reverse racism” against white people is a fact. People’s statements appeared in replies to his posts “there’s nothing wrong with being white” and claiming they faced discrimination due to being white.
This time, Musk’s reaction was quick and serious.
Disney is just one company pulling its advertising – other major companies pulling back include IBM, Apple and Lionsgate. On Friday, in addition to Disney, Warner Bros. also suspended its operations. Discovery, owner of CNN, according to CNN.
In a statement to Business Insider in response to the recent confusion, an executive at X previously pointed out: recent entry from the platform CEO Linda Yacaccarino.
A recent report from Non-profit media matters only increased advertisers’ concerns. It turned out that ads for many large companies were placed next to white supremacist and anti-Semitic content.
Individuals also reacted to Musk’s actions. Facebook co-founder and Asana CEO Dustin Moskovitz called on Musk to resign from all six of his companies.
Longtime Tesla investor Ross Gerber said Musk has essentially “already stepped down” as Tesla’s CEO through his behavior, even though he has not actually stepped down.
“I’ve never seen anything like this in my life at any company that I’ve invested in, where the CEO is doing so many harmful things that are damaging to the brand because that’s what’s happening,” Gerber said on CNBC’s “Last Call.” “It is absolutely outrageous his behavior and the damage he has caused to the brand.”
In addition to public complaints, X employees are also fielding calls from upset advertisers asking about Musk’s actions and the Media Matters report.