Walmart Pulls Advertisements From Elon Musk’s X Platform
Walmart has joined the list of companies suspending advertising on Elon Musk’s social media platform, X, following Musk’s apparent endorsement of an antisemitic post. The retail giant, citing a preference for other platforms, joins Disney, Apple, IBM, and Warner Bros in distancing themselves from X. Despite Musk’s claim that Walmart’s decision resulted from his platform’s antisemitic post, X’s head of business operations, Joe Benarroch, revealed that Walmart had halted ads in October. Musk responded to the news with a tweet expressing a preference for HEB, a remark interpreted as a dig at Walmart.
During the DealBook Summit, Musk criticized major advertisers abandoning X, warning that their actions could “kill” the platform. X CEO Lina Yaccarino defended Musk, emphasizing the company’s unwavering principles and resistance to compromise. Musk acknowledged the post as a “mistake,” but the controversy may cost X up to $75 million in ad revenue by the end of 2023, according to The New York Times. Investor Ross Gerber criticized Musk’s behavior, asserting it has harmed Tesla’s brand. Walmart’s decision aligns with a broader trend of major companies distancing themselves from X amid concerns over Musk’s controversial statements.
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