Elon Musk has been stuck in a loop of controversies and other turbulent issues since he bought Twitter, aka X, in October 2022. Since the $44 billion acquisition, Elon has been struggling to revamp the platform. When he acquired X, the advertisers fled the platform after activists lobbied. Due to the advertisers leaving the platform, it saw a huge depletion in revenue.
While Elon Musk is striving to compensate for the lost advertisement revenue, he is getting embroiled in other controversies. Recently, Elon Musk fueled the ‘Great Replacement Theory’ by engaging with an anti-Semitic post on X. This led to heavy criticism and many corporations pulling out the advertisements from the platform. After the advertisers’ debacle, a report is concerning for the billionaire as mass resignations are taking place at the company.
Related: Elon Musk-Owned X Sues Media Matters After Advertisers Flee The Platform
Elon Musk-Owned X’s Employees Are Resigning From The Company Despite Bonuses
It is a turbulent time for X, thanks to Elon Musk! While advertising revenue has plummeted by 54% since October 2022, Musk has been doing more harm than good to retain it.
After his anti-Semitic move, a report by Media Matters for America suggested that corporations like Disney, IBM, Apple, and others were pulling out advertisements from the platform after their advertisements were placed near pro-Hitler and pro-Nazi content.
In 2022, Elon Musk conducted a mass layoff, reducing more than half of its employees. Later, many employees resigned from core positions after Musk’s extreme work conditions. Now, as per a report by Claire Atkinson, the strength of employees working at X has reduced considerably. Many senior and junior staff have resigned from their positions.
Despite Elon Musk handing bonuses to the employees at X, they are leaving in large batches. Claire’s report indicates that major resignations are coming from the sales department due to the huge financial consequences of Elon Musk’s actions. The advertising department is suffering a huge loss after the advertisers decided to flee from the wrath of hate on the platform.
In Case You Missed: “Advertisers Can Go F**k Themselves”: Elon Musk Speaks Up Amid Row Over His Alleged Anti-Semitic Remarks
X Might Lose More Advertisers As Musk Asked To F**k Themselves
Elon Musk, at this point, is rowing a drowning boat, which is X. A large number of prominent advertisers have fled the platform after the Tesla owner peddled the conspiracy theory against the Jews. Recently, at The New York Times’ DealBook Summit, Elon Musk asked the corporations, especially Disney’s Bob Iger, to “Go. Fuck. Yourself.”
Elon Musk alleged that advertisers like Disney and The Washington Post are blackmailing him with their advertising. He wished the advertisers would fail due to their decision.
Now, experts are weighing in on the situation regarding X’s future under Elon Musk’s leadership. Jasmine Enberg from Insider Intelligence told Reuters, “Should X collapse, an autopsy would reveal a series of platform policy decisions, staffing cuts, tweets, and antagonistic comments by Musk that have driven away X’s primary source of revenue.”
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