Musk and X CEO Linda Yaccarino have recently stated that most of the company's top-spending advertisers from last year have returned.

Most of the world’s biggest advertisers have stopped buying ads on Elon Musk’s X, exclusive new data shows::Musk and X CEO Linda Yaccarino have recently stated that most of the company’s top-spending advertisers from last year have returned.

  • cheese_greater@lemmy.worldEnglish
    384·
    9 months ago

    Does anyone else consider it plausible that flushing $44 billion is worth the cost if it removes that meddlesome social media platform that activists rely on to syndicate human rights abuses and document all the other terrible stuff that happens around the world?

    There’s something way sketch about this entire narrative

    • silverbax@lemmy.worldEnglish
      362·
      9 months ago

      Or, Elon Musk is just an idiot doing the same idiot things he’s always done.

      • OrangeJoe@lemm.eeEnglish
        1·
        9 months ago

        This absolutely feels like a Hanlon’s razor type situation especially given what we have learned about Elon musk over the last 5 or so years. The whole evil genius shtick just doesn’t fly anymore. He’s an idiot who just happens to have made enough good or lucky business decisions in the past to get him where he is now.

    • UnspecificGravity@discuss.tchncs.deEnglish
      131·
      9 months ago

      It’s impossible to say what anything is worth to a person who can lose 44 billion dollars and still have so much money left that the next 10 generations of their lineage won’t ever have to work again.

      It’s insane to think of that as a trivial amount of money, but musk could literally lose 99% of his money and it wouldn’t impact his life at all, except for his hobby of bankrupting corporations.

      • stifle867@programming.devEnglish
        1·
        9 months ago

        As obscenely wealthy as he is, that wealth comes from bis assets not cash in hand. $20B of the $44B paid was cash, some of which was from selling some of his Tesla shares. Further to that, Tesla stock dropped so significantly it caused his net worth to drop by a further $30B.

    • driving_crooner@lemmy.eco.brEnglish
      6·
      9 months ago

      Did he actually paid 44B of his own money? How much of the money came from saudi investors and twitter leverage debt?

      • abhibeckert@lemmy.worldEnglish
        3·
        9 months ago

        I don’t think the exact amount is known, but he got money from a lot of sources and the bulk of it was Elon’s own money (or at least, his own assets). He also sourced a lot of money from other American billionaires (Larry Ellison for example).

        It’s likely the Saudis invested very little… although they did invest enough that Elon has to have given them something in return.

        Nobody involved in that purchase expected to make money on it. The price was far too high.

    • Zetta@mander.xyzEnglish
      5·
      9 months ago

      I don’t consider that plausible. I think must didn’t really want to buy Twitter but fucked up and was forced to.