Halted adverts on X are likely to cause $75 million in losses

Following this month's endorsement of an antisemitic conspiracy theory by Elon Musk, could cost the social media company X as much as $75 million in advertising revenue.

After Elon Musk, the owner of social media giant X, supported an antisemitic conspiracy theory this month, dozens of big brands halted their marketing campaigns, potentially costing the company as much as $75 million in advertising revenue by the year's end.

The New York Times this week obtained access to internal documents that reveal the company is facing greater challenges than previously thought and that worries about Mr. Musk and the platform have extended well beyond businesses like Disney, Apple, and IBM, which last week halted their X advertising campaigns.

These documents, which originate from X's sales team, are intended to monitor the effects of all the advertising lapses that have occurred this month, both those by businesses who have already ceased and those that might be in danger of doing so. The employees of X believe that if advertisers do not return, the company would lose a significant amount of ad income before the end of the year.

In a statement released on Friday, X stated that $11 million in income was in jeopardy and that the precise amount varied depending on which advertisers returned to the platform and which ones upped their spending. The business claimed that the figures The Times saw were either out of date or the result of an internal assessment of overall risk.