Quick access to main page (top) Direct access to main contents Quick access to main page (bottom)

‘Musk X’ in crisis…bankruptcy fears emerge amid string of ad breaks.

Eugene Park Views  

Analysts have suggested that the social media platform X (formerly Twitter), led by Tesla CEO Elon Musk, could face bankruptcy. This comes after a series of global corporations ceased advertising on X following Musk’s acquisition last year.

On February 2nd, local time, the British BBC reported on the ongoing global corporations’ advertising halt on X, stating, “It may seem unimaginable that the company Musk acquired for $44 billion could go bankrupt, but it is possible.”

Controversy arose after Musk’s acquisition of X, with claims that the platform saw an increase in hateful expressions. Recently, the situation escalated as Musk posted a message supporting anti-Semitic conspiracy theories, leading to a significant exodus of advertisers. Major advertisers such as IBM, Apple, Walt Disney, and Walmart have consecutively declared an advertising halt on X.

Musk seemed to be trying to mitigate the controversy by visiting Israel on the 27th of last month and showing support for the obliteration of Hamas. However, two days later, he escalated the situation further by hurling profanity at the departing advertisers during a public interview with the New York Times (NYT).

According to the BBC, last year, X’s revenue was 90% reliant on advertising. In this context, the departure of advertisers is seen as a threat to the company’s survival. Last year, Twitter’s advertising revenue was around $4 billion, but this year it is projected to be ‘halved’ to about $1.9 billion.

Eugene Park
content@www.kangnamtimes.com

Comments0

300

Comments0

[BUSINESS] Latest Stories

  • Trump vs. Harris: Which U.S. Election Outcome Will Boost Stocks the Most?
  • THIS is the Country Jensen Huang Thinks Will Lead the AI Revolution
  • Volkswagen Shutting Down German Plant for the First Time Ever—Big Layoffs Expected
  • Google's Tax Tricks: How They Pay Pennies on Billions in Korean Revenue
  • Here’s What It Said on North Korea’s Propaganda Leaflets that Dropped Near Presidential Office
  • Why Samsung’s Founder Said 'Burn Them All' to His Own Phones

Weekly Best Articles

  • New Electric Sedans and SUVs: Volvo Expands Its EV Lineup with Bold Designs
  • Tesla’s Full Self-Driving Tech for Model 3 and Y Set for 2025—Can It Overcome Safety Issues?
  • California Police Frustrated by Tesla Model 3: Too Cramped, Not Practical
  • Trump vs. Harris: Which U.S. Election Outcome Will Boost Stocks the Most?
  • Kim Sejeong on Kiss Scene Prep: ‘It’s Like Laying the Foundation for a Building!’
  • Kim Tae Ri’s Character Faces Devastating Setback in ‘Jeongnyeon: The Star is Born’
  • Lee Seung Gi Goes Bald! Shocking Change for His Role in ‘About Family’
  • Man Who Sponsored $1.2M to Streamer Juice Se Yeon Says She Blocked Him After Scandals
  • BTS Music Video Star and Tattoo Model Kim Woo Young Remembered 6 Years Later
  • Outback’s Last Ride: Subaru Launches 30th Anniversary Edition with Exclusive Features
  • Chrysler’s 2025 SUV: A Glimpse into the Future of Electric Vehicles
  • Fiat’s ‘Ugliest Car’ Makes a Comeback with Hyundai’s Pixel Design Twist

You May Also Like

  • 1
    Fiat’s 'Ugliest Car' Makes a Comeback with Hyundai’s Pixel Design Twist

    TECH 

  • 2
    Kim Nam Gil Spills Secrets About The Fiery Priest 2—Why Fans Should Be Excited

    ENTERTAINMENT 

  • 3
    BJ Juice Se Yeon Deletes ‘Suspicious’ Photo with Kim Haon—Fans Speculate Romance

    ENTERTAINMENT 

  • 4
    G-Dragon’s Secret Addiction? The K-pop Star Can’t Stop Watching Dating Shows

    ENTERTAINMENT 

  • 5
    Chef Triple Star Shows Up at Event Despite Explosive Cheating and Embezzlement Claims

    ENTERTAINMENT 

Popular Now

  • 1
    Jaehyun Joins the Military—Here’s What Happens to His Career While He’s Away

    ENTERTAINMENT 

  • 2
    BMW M3 to Feature 600 HP Mild Hybrid Powertrain—No Plug-in Hybrid Here!

    TECH 

  • 3
    Subaru BRZ Purple Edition: Only 500 Units Available in North America for $35,445

    TECH 

  • 4
    Brazil’s Beloved Nivus Gets a Facelift: New GTS Model Starts at $24,480

    TECH 

  • 5
    Tesla’s Roadster Returns: 621 Miles on One Charge and Insane Speed

    TECH 

Weekly Best Articles

  • New Electric Sedans and SUVs: Volvo Expands Its EV Lineup with Bold Designs
  • Tesla’s Full Self-Driving Tech for Model 3 and Y Set for 2025—Can It Overcome Safety Issues?
  • California Police Frustrated by Tesla Model 3: Too Cramped, Not Practical
  • Trump vs. Harris: Which U.S. Election Outcome Will Boost Stocks the Most?
  • Kim Sejeong on Kiss Scene Prep: ‘It’s Like Laying the Foundation for a Building!’
  • Kim Tae Ri’s Character Faces Devastating Setback in ‘Jeongnyeon: The Star is Born’
  • Lee Seung Gi Goes Bald! Shocking Change for His Role in ‘About Family’
  • Man Who Sponsored $1.2M to Streamer Juice Se Yeon Says She Blocked Him After Scandals
  • BTS Music Video Star and Tattoo Model Kim Woo Young Remembered 6 Years Later
  • Outback’s Last Ride: Subaru Launches 30th Anniversary Edition with Exclusive Features
  • Chrysler’s 2025 SUV: A Glimpse into the Future of Electric Vehicles
  • Fiat’s ‘Ugliest Car’ Makes a Comeback with Hyundai’s Pixel Design Twist

Must-Reads

  • 1
    Fiat’s 'Ugliest Car' Makes a Comeback with Hyundai’s Pixel Design Twist

    TECH 

  • 2
    Kim Nam Gil Spills Secrets About The Fiery Priest 2—Why Fans Should Be Excited

    ENTERTAINMENT 

  • 3
    BJ Juice Se Yeon Deletes ‘Suspicious’ Photo with Kim Haon—Fans Speculate Romance

    ENTERTAINMENT 

  • 4
    G-Dragon’s Secret Addiction? The K-pop Star Can’t Stop Watching Dating Shows

    ENTERTAINMENT 

  • 5
    Chef Triple Star Shows Up at Event Despite Explosive Cheating and Embezzlement Claims

    ENTERTAINMENT 

Popular Now

  • 1
    Jaehyun Joins the Military—Here’s What Happens to His Career While He’s Away

    ENTERTAINMENT 

  • 2
    BMW M3 to Feature 600 HP Mild Hybrid Powertrain—No Plug-in Hybrid Here!

    TECH 

  • 3
    Subaru BRZ Purple Edition: Only 500 Units Available in North America for $35,445

    TECH 

  • 4
    Brazil’s Beloved Nivus Gets a Facelift: New GTS Model Starts at $24,480

    TECH 

  • 5
    Tesla’s Roadster Returns: 621 Miles on One Charge and Insane Speed

    TECH 

Share it on...