Elon Musk Goes Full Scorch-Earth Against Anti-Defamation League (ADL), Blames the Jewish Advocacy Group for Wiping $22 Billion Off X
This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
By now, it is virtually a rite of passage for the more colorful side of Elon Musk's persona to emerge on the weekends. Right on cue, the world's richest person has now sounded a clarion call against one of the biggest Jewish advocacy groups, blaming the Anti-Defamation League (ADL) for erasing "half the value" of X.
To clear our platform’s name on the matter of anti-Semitism, it looks like we have no choice but to file a defamation lawsuit against the Anti-Defamation League … oh the irony!
— Elon Musk (@elonmusk) September 4, 2023
Today's saga began when Elon Musk announced his intention to file a defamation lawsuit against the ADL.
Interesting.
In our case, they would potentially be on the hook for destroying half the value of the company, so roughly $22 billion.
— Elon Musk (@elonmusk) September 4, 2023
In another tweet, Musk accused the ADL of wiping as much as $22 billion off X.
As we noted in an earlier post, 37 of the top 100 advertisers of the pre-Musk era refused to spend a single dime on X in the first quarter of 2023, and another 24 advertisers in this list curtailed their ad spend on the platform by around 80 percent. The advertisers justified this hiatus as a necessary step to examine X's content moderation policy under the auspices of Elon Musk.
Based on what we’ve heard from advertisers, ADL seems to be responsible for most of our revenue loss.
Giving them maximum benefit of the doubt, I don’t see any scenario where they’re responsible for less than 10% of the value destruction, so ~$4 billion.
Document discovery of…
— Elon Musk (@elonmusk) September 4, 2023
Nonetheless, most of
Read more on wccftech.com
