- Walmart joins a growing list of companies suspending advertising on X.
- This comes after Elon Musk appeared to endorse anti-Semitic posts.
- Musk said it was a “mistake” and “one of the stupidest things” he had done on the platform.
Walmart announced Friday that it will stop advertising on Elon Musk’s social media platform X, formerly known as Twitter.
“We are no longer advertising on X because we have found other platforms where we can more effectively reach our customers,” a Walmart spokesperson told Bloomberg News.
The retailer, the largest U.S. retailer by sales, joined several other major companies, including Disney, Apple, IBM and Warner Bros., after Musk appeared to endorse anti-Semitic posts. is pulling ads from the platform.
However, Joe Benarroch, head of business operations for X, told CBS MoneyWatch that the company stopped advertising on X in October, “so this is not a recent suspension.” .
In a statement to Business Insider, Walmart said, “We do not actively advertise on It’s just been reduced.”
“These decisions are made in a dynamic market and may change in the future,” it added.
At Walmart on Friday, Musk responded to a tweet about the news saying, “I prefer HEB.”
At this week’s Dealbook Summit, he had harsher words, slamming big advertisers who have pulled him off his platform and warning they could “kill” X.
X CEO Lina Yaccarino sent a memo to the company on Thursday supporting Musk.
“Our principles have no price tag and will never be violated,” she wrote. “No matter how hard they try, we will not be distracted by critics on the sidelines who do not understand our mission.”
Musk later said the post was a “mistake” and “one of the stupidest things” he had ever done on the platform. The controversy could cost the company up to $75 million in advertising revenue by the end of 2023, The New York Times reported.
Investor Ross Gerber said Musk’s X comments also hurt Tesla, saying he had never seen a CEO do “so many harmful things” that damaged the brand. Ta.
“I’ve never seen anything like this in any company I’ve ever invested in. CEOs do a lot of harmful things that destroy brands because, at the end of the day, that’s what happens. “It’s outrageous, his actions and the damage he’s done has affected the brand,” he said.