Elon Musk has been putting a lot of effort into keeping X afloat. The billionaire acquired the company in 2022 for $44 billion, but since then, it has been debilitating. When Musk completed the deal, many advertisers pulled their advertisements from the platform, depleting the advertisement revenue, which has been a crucial source of income for the platform.
Elon Musk devised various policies to get the revenue back on track. He started an $8-per-month subscription plan, which proved chaotic, but Musk restored it. Later, he also opened avenues for the creators to monetize by uploading content on X. However, revenue has gone down since his takeover. Now, he has lost a considerable number of advertisers due to his anti-Semitic stance. Elon is trying to win back advertisers by extending help to Gaza, which is affected by Israel, by giving them revenue.
Related: Apple Will Stop Advertising On X After Elon Musk Endorses Anti-Semitism
Elon Musk Ensures Tracking Funds After The Donation To Red Crescent/Cross For Gaza
The war between Hamas and Israel has intensified. The latter has not stopped since Hamas attacked the country on October 7, 2023. There has been a considerable loss of human life, infrastructure, and resources. There have been a handful of influential people who have extended aid to Gaza after Israel cut off all the water, electricity, and internet services to the civilians. Elon Musk is one of them.
Recently, Elon Musk’s X faced a heavy loss when advertisers fled from the platform. Major corporations like Apple, Disney, IBM, and others have decided to stop advertising on X, placing their product advertisements next to pro-Hitler and pro-Nazi content after the Media Matters for America story.
Elon Musk has now ensured, after the heavy loss, that all the revenue from the advertisement will be extended towards affected people in Gaza. He wrote, “X Corp will be donating all revenue from advertising & subscriptions associated with the war in Gaza to hospitals in Israel and the Red Cross/Crescent in Gaza.”
A user asked him how he would make sure that the money did not land in the hands of Hamas. Elon Musk ensured that X would track the spending of funds and ask followers to contribute better ideas. He added, “We should care about the innocent regardless of race, creed, religion, or anything else.”
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X Sues The Media Matters After Their Report
On Monday, Elon Musk-owned X sued Media Matters for America. The company filed a lawsuit against the organization in the Federal Court of Texas, accusing them of “knowingly and maliciously” manufacturing the report and misguiding corporations about their advertisements getting placed near the pro-Hitler posts.
In the lawsuit, X stated the methodology that Media Matters used to “manufacture the harmful perception that X is at best an incompetent content moderator, or even worse that X was somehow indifferent or even encouraging to Nazi and racist ideology.”
X is accusing the think tank of manipulating the algorithm, making it think that the user “wanted to view both hateful content and content from large advertisers.” The company is asking for monetary compensation and an order from the court to remove the report.
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