X Could Lose Up to $75 Million by Year-End

The New York Times reported that "X, the social media company owned by Elon Musk, could lose up to $75 million in advertising revenue by the end of the year as dozens of major brands have paused their marketing campaigns on the platform." This follows Musk's support for a post deemed anti-Semitic last week, leading several companies, including Walt Disney and Warner Bros. Discovery, to temporarily halt their ads on the platform formerly known as Twitter. In response, X filed a lawsuit against the media monitoring group Media Matters, stating that "the organization tarnished the platform's reputation with a report that claimed ads from major brands like Apple and Oracle appeared alongside posts about Adolf Hitler and the Nazi party." X stated on Friday that "11 million dollars in revenue is at risk, and the exact figure is changing as some advertisers return to the platform and others increase their spending, according to the report."