Elon Musk hit as companies pull Twitter ads: Billionaire blames ‘activist groups lobbying advertisers’ for new wave of brands leaving the platform
Elon Musk’s tenure as owner of Twitter went from bad to worse, as he denounced a “massive drop” in ad sales.
The billionaire blamed “activist groups lobbying advertisers” for a new wave of brands leaving the platform.
Concern: Companies fear microblogging site could become ‘free hell for all’ under Elon Musk’s rule
Musk, the head of electric car maker Tesla, said “nothing has changed” about how Twitter moderates its content and that he did everything he could to “appease activists.”
But the platform, which it bought last month for £38bn after a legal battle, was hit yesterday by a new exodus of advertisers.
Companies fear the microblogging site could become a “free hell for all” under Musk’s rule.
But a drop in ad revenue could spell trouble for the 57-year-old, as advertisers account for 90 percent of his annual revenue.
US food giant General Mills and the Volkswagen Group said they were pausing advertising on the platform. Cadbury owner Mondelez and Pfizer have also pulled ads. They followed the Danish brewing giant Carlsberg.
Musk said: ‘Extremely messy! They are trying to destroy free speech in America.