Elon Musk has been on a spree to take down the advertisers after many of them left X due to rising hate and Musk’s perpetuation of anti-Semitism on the platform. Since Elon bought X, aka Twitter, he has been facing a lot of hurdles in monetary terms. When he bought the company, the activists lobbied against advertisers advertising on the platform, which hit the advertising revenue of X.
Since then, Elon Musk has been trying to compensate for the advertising revenue, but the billionaire has failed to replace the revenue generated from advertisements. Recently, he engaged in a post that perpetuated the conspiracy theory of ‘Great Replacement’. Due to the anti-Semitism posed in the post, many corporations like Disney, Walmart, IBM, and others ceased to advertise. Musk told them to “f**k themselves” while specifically hinting at Disney’s CEO, Bob Iger. Now, he wants Disney to fire Iger.
Elon Musk Claims Walt Disney Turning In His Grave Over Bob Iger’s Poor Performance At Disney
Elon Musk-owned X is a sinking ship that is already in poor shape. However, after Musk’s takeover, the situation on the platform has worsened.
The billionaire is trying to hold on to the last straw as advertisers are leaving the platform after the anti-Semitism controversy. The exodus intensified after a report by Media Matters for America stated that X is placing corporations’ advertisements near pro-Nazi and pro-Hitler content.
He should be fired immediately.
Walt Disney is turning in his grave over what Bob has done to his company.
— Elon Musk (@elonmusk) December 7, 2023
Amidst the exodus, Elon Musk attended the DealBook conference, where he took a jibe at advertisers, especially Bob Iger. He said, “I hope they stop. Don’t advertise. If somebody is going to try to blackmail me with advertising, blackmail me with money, go f**k yourself. Go f**k yourself.” He signaled Bob Iger, the CEO of Disney, saying, “Hey Bob if you’re in the audience.”
After attacking Bob Iger at the conference, Elon Musk launched a scathing attack on the Disney executive on X. When a user asked why Disney is not firing Bob, Elon was quick to reply, writing, “Walt Disney is turning in his grave over what Bob has done to his company,” demanding him to get fired.
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The Billionaire’s Social Media Venture May Go Bankrupt
For a long time, Elon Musk has been hinting at buying Twitter, aka X. However, after successfully purchasing the platform in the historic $44 billion deal, Musk is now struggling to keep it afloat. After losing major revenue sources like advertising, Elon is trying to compensate for the advertising revenue streams by launching a subscription plan.
However, after the advertisers’ exodus, Elon Musk has to find other streams of revenue. The billionaire himself said that the revenue from subscriptions is not enough to compensate for the main source of income for X, which is advertisements. During a BBC interview, he said, “If you have a million people that are subscribed for, let’s say, $100 a year-ish, that’s $100m. That’s a fairly small revenue stream relative to advertising.”
Currently, Elon Musk’s X is under a debt of $13 billion, which Musk took to buy the platform. X has to pay $1.3 billion in interest every year to clear the debt. On top of that, there are employee bills that need to be paid, which is becoming difficult since advertisers are no longer willing to advertise on X due to Musk’s jeopardizing eccentricities.
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