Bill Ackman Defends Elon Musk and Criticizes Advertisers Treating X Unfairly

Bill Ackman’s Support for Elon Musk

Hedge fund manager Bill Ackman has once again come to the defense of Elon Musk and his leadership of X. This time, Ackman believes that Musk’s recent interview, where he expressed frustration towards advertisers, was a success. In a popular post published on X, Ackman expresses his view that advertisers are treating the platform unfairly and highlights the fortunate circumstances of Musk’s ownership.

Unfair Treatment by Advertisers

Ackman defends Musk’s recent actions and dismisses allegations of antisemitism, stating that Musk had no such intentions. He specifically criticizes Disney CEO Bob Iger for giving in to public pressure in pulling ads from X and argues that it is unjust for advertisers to boycott X while similar platforms like TikTok, Facebook, and Instagram also contain antisemitic content. Ackman highlights the inconsistency in treating X differently and calls for fairness in handling these situations.

The Impact on X’s Revenue

Following Musk‘s controversial remarks, prominent advertisers such as Disney, Apple, and IBM have withdrawn their ads from X. This exodus could potentially lead to a loss of up to $75 million in ad revenue for the platform, causing significant financial implications. The New York Times reports on this potential revenue decline, further emphasizing the impact of advertiser actions on X.

Statistics on Antisemitic Content

Ackman acknowledges the issue of antisemitic content on X, citing statistics that show a 919% increase since October 7th. Comparatively, Facebook has experienced a 28% increase during the same period. Additionally, a study conducted by the Center for Countering Digital Hate, which Musk is suing for deterring advertisers, highlights the accessibility of 86% of the reported hateful posts on X.

Gratitude for Musk’s Ownership

Ackman concludes his post by suggesting that all Americans could potentially receive one share of X in the future. Until then, he believes that gratitude should be shown towards Musk’s ownership of the platform.

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