Elon Musk, the owner of X Corp, took to social media to accuse the Anti-Defamation League (ADL) of significantly impacting advertising revenue on the platform. In a series of posts, Musk claimed that ad sales on X are down by 60%, primarily due to pressure exerted on advertisers by the ADL.
Musk asserted that the ADL has been actively attempting to undermine the social media platform ever since he acquired it in October of the previous year. He accused the organization of making false allegations of anti-Semitism against both X and himself. Reports of increased harassment and the presence of extremist content on X have surfaced since Musk’s takeover, as noted by the Anti-Defamation League.
Despite emphasizing his support for free speech, Musk expressed his strong opposition to any form of anti-Semitism. He reiterated his belief in X as a public forum open to all individuals. He acknowledged the ADL’s efforts, stating, “In my opinion, they are excessive, but perhaps the public will agree with them.”
Last week, X Corp announced its decision to permit political advertising from candidates and political parties in the United States. In preparation for the 2024 presidential election, X will expand its safety and elections team. This decision to allow political advertising is expected to boost the platform’s revenue, particularly as many advertisers have reduced their spending on X in recent times.
As part of its efforts to enhance transparency, X will establish a global advertising transparency center that enables users to view promoted political ads on the platform. However, X will continue to prohibit political ads that disseminate false information or attempt to undermine public confidence in an election.
X Corp, formerly known as Twitter, had previously lifted its ban on “cause-based ads” in the United States, which aim to raise awareness about issues such as voter registration. The company had also expressed its intention to expand the types of political ads permitted on the platform.