Musk Hits Out at 'Blackmailing' Advertisers After Antisemitism Apology

Elon Musk criticized major brands that pulled their advertising from Twitter after he apologized for endorsing an antisemitic conspiracy theory on the platform.

Speaking at the New York Times' DealBook Summit on Wednesday, Musk said the advertisers were attempting to "blackmail" him by withdrawing their spending. When asked what his message was to those companies, he used an expletive and bluntly said, "don't advertise."

Over 200 big-name advertisers like Disney, Apple and IBM froze their Twitter spending after Musk agreed with a post that accused Jewish communities of "hatred against whites." The estimated $75 million quarterly loss from the ongoing boycott could bankrupt Twitter, according to internal documents seen by the Times.

Although acknowledging the real threat to Twitter's finances, Musk suggested the public would blame the brands rather than him if the platform collapsed. He called out Disney CEO Bob Iger, who expressed concerns about associating with Musk and Twitter.

Musk apologized again for sharing the antisemitic post, saying he should have addressed it in "greater length." However, he maintained the advertisers' moves amounted to an illegitimate attempt to censor him. Advertising is its key revenue source, leaving new CEO Linda Yaccarino with the challenge of mending ties Musk further damaged with his confrontational remarks.