Elon Musk has been rowing a sinking ship with X, aka Twitter. In October 2022, Elon completed the historic $44 billion deal to purchase the platform and completely revamp it. However, in the initial stages of the acquisition, Musk was faced with the greater challenge of plummeting finances with advertisers pulling out advertisements.
Elon Musk, even before the purchase of X, peddled his ideologies and opinions on the platform. When he completed the deal, he wanted to create a level playing field for everyone on the platform, including terrorist organizations like the Taliban, to co-exist. Nevertheless, the corporations have been experiencing their products being placed next to pro-Hitler content. Due to this, Apple decided to completely pull out of advertising on the microblogging site.
Elon Musk’s Anti-Semitic Posts Made Corporations Like Apple Withdraw Advertisements
Elon Musk-owned X has been performing badly since the billionaire took control of it. The advertisement revenue has been slumping since 2022, after multiple advertisers pulled out. It has become worse after one year of the acquisition. As per reports, advertisement revenue plummeted by 54%.
Elon Musk’s vision of making X into a “bedrock of democracy” is not aligned with the financial goals. Musk has been a participant in peddling some controversial ideologies, including anti-Semitism and conspiracy theories. Due to this, many corporations have decided to stop advertising their products on X.
You have said the actual truth
— Elon Musk (@elonmusk) November 15, 2023
Elon Musk agreed with the conspiracy theories that Jews are allowing the exodus of minorities into the US to replace white people. This white supremacist behavior of his has cost him his social media endeavor. After IBM, Apple has withdrawn its advertisements from X. A source reported to Axios that the company has stopped all advertisements on X.
The Billionaire Alleged That Tim Cook Withheld X On Apple
In November 2022, Elon Musk was upset that Apple allegedly held Twitter, aka X, during review moderation. Apple employs app reviewers to check its authenticity and if it complies with all the policies. It levies 15–30% additional taxes on the apps purchased from the App Store. It works as a salary for the app reviewers.
Apple has also threatened to withhold Twitter from its App Store, but won’t tell us why
— Elon Musk (@elonmusk) November 28, 2022
Elon tweeted, “Apple has also threatened to withhold Twitter from its App Store, but won’t tell us why.” He called the App Store’s fee a “secret 30% tax.” However, the Tesla owner later met with Tim Cook and cleared up all the misunderstandings at the Apple headquarters in California.
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People from every corner of the world post incredible content on 𝕏, but often live in tough circumstances, where even a few hundred…
— Elon Musk (@elonmusk) August 2, 2023
In August 2023, Elon Musk also proposed a plan for fair monetization of creators on X. He said that X will not charge a commission to the creators until it reaches $100,000. After that, it will charge 10% of the $100K while keeping the first year free. He ensured that he would talk to Cook to adjust the 30% tax by incurring it from the 10% that the platform keeps.