Musk had to defend himself on X

Indeed, it had been a while since social media talked about Elon Musk. After the statements regarding a possible failure of X last August, the famous billionaire, among other things, for completely changing the face of one of the most famous social media platforms of all time, had disappeared from the front-page news. However, this weekend, he returned to the spotlight, vehemently opposing false media reports accusing the Tesla and X magnate of antisemitism. The former Twitter owner had to defend himself with a post. The accusations from American media outlets had managed to drive away advertisers such as Apple Inc. and Walt Disney Co. from the social platform, so Musk had to address the situation openly. «Last week, there were hundreds of false news stories in the media claiming that I was antisemitic,» wrote the entrepreneur. «Nothing could be further from the truth. I only wish the best for humanity and a prosperous and exciting future for all.»

During the past week, Musk allegedly shared his approval of an antisemitic post about X that claimed Jews harbor a "dialectical hatred" towards whites. The issue has shaken Tesla and X investors and even reached the White House. Musk has long been criticized for poor content moderation on the platform, but the entrepreneur has always countered any comments by claiming to support freedom of expression. According to the Financial Times, this latest controversy has led advertising executives from companies utilizing X spaces to privately meet with Linda Yaccarino, the CEO of the company, advising her to resign before it's too late, but she refused.

Unlike other platforms, the withdrawal of investments by companies like Apple, Walt Disney, Paramount, Warner Bros, and many others brings numerous complications to X. The company is facing serious financial losses - last May, it declared a value one-third of the 2021 purchase price. Since then, Musk has ordered the resignation of about 7,000 employees and brought Linda Yaccarino to lead the administration, hoping to cut costs and find new investors. The entrepreneur's latest statement represents another attempt to save the remaining available resources, although Musk can still rely on the support of Bill Ackman, the American fund manager who is defending him on the platform and who last October said he is ready to invest in X. According to the Wall Street Journal, Ackman (who has 800,000 followers on X through engaging posts covering topics such as the war in Ukraine and anti-vax positions) was interested in listing X Corp. on the stock exchange through his company.