Once again, hedge fund manager Bill Ackman finds himself in the position of defending Elon Musk, this time applauding Musk’s recent controversial interview where he berated advertisers. In a comprehensive post on the matter, which has garnered over 3 million views on a popular platform, Ackman asserts that advertisers are unjustly targeting X, and emphasizes the fortunate circumstance of Musk’s ownership of the platform.
Advertiser Exodus and Financial Ramifications
Following Elon Musk’s perceived endorsement of an antisemitic post and reports from Media Matters indicating ads appearing alongside pro-Nazi content, major advertisers like Disney, Apple, and IBM have withdrawn their support from X. This mass departure could potentially result in a staggering loss of up to $75 million in ad revenue for the platform, as reported by The New York Times.
Ackman’s Defense of Musk and Critique of Advertiser Actions
In his defense of Musk, Ackman refutes claims of antisemitic intent, particularly targeting Disney CEO Bob Iger for capitulating to public pressure. He argues that it’s unjust for advertisers to single out X for boycott when other platforms like TikTok, Facebook, and Instagram also host antisemitic content. Ackman also highlights statistics from the Anti-Defamation League and the Center for Countering Digital Hate to contextualize the issue further.
Proposal for American Ownership and Gratitude for Musk’s Ownership
In a surprising suggestion, Ackman proposes the distribution of one share of X to every American, underscoring the significance of Musk’s ownership. Until such a measure is enacted, Ackman urges gratitude for Musk’s stewardship of the platform.
Ackman’s Silence on Business Insider’s Inquiry
Despite the extensive commentary, Ackman has yet to respond to Business Insider’s request for comment, signaling a potential reluctance to engage further on the matter.
Ben Müller
