March 4, 2024
After Musk's profane anti-advertiser statement, billionaire investor Bill Ackman comes to his defense: 'We should all be grateful that X is owned by Musk'

Elon Musk this week angrily told big advertisers like Disney and Apple, who have stopped spending on X/Twitter, to “fuck yourselves.”

Bill Ackman, head of investment holding company Pershing Square Holdings and investor in Adopt double standards.

“I thought @ElonMusk’s interview with @AndrewSorkin was one of the great interviews ever,” Ackman wrote in an article. Post x on Thursday evening, referring to Musk’s appearance at The New York Times’ DealBook summit. “Musk is a free speech absolutist who I respect. I think he is absolutely right that he and @X have been treated unfairly and unfairly by advertisers.”

Ackman also wrote, “To use a muskism, Earth is lucky that @X is owned by a man who is largely untouched by financial and other influences.” However, he said, X should probably move toward “some kind of very carefully governed trust” rather than being owned and controlled by a single individual. “Until then, we should all be grateful that X is owned by Musk,” Ackman said.

“Musk has been targeted because other media organizations view @X as a competitor and tend to click whenever his name appears in an article about controversies,” the hedge fund manager wrote. Mainstream media outlets are “incentivized” to attack it because it actually draws attention to their sites and therefore more revenue. It is these offensive articles from other media organizations that attack Disney around the world. But they put pressure on people to stop advertising.

At the DealBook conference, Musk accused advertisers of “blackmail” after pulling ads from X over his support of an anti-Semitic conspiracy theory. “What if someone tries to blackmail me by giving advertisements? Blackmail me for money? Go fuck yourself. Go. Shame. yourself. What’s the obvious?” Musk said. He called out Disney CEO Bob Iger, who said earlier at the conference that the tech mogul’s comments that the partnership with X were “not necessarily a positive one for us.” Asked about it, Musk said, “Hey Bob, if you’re in the audience, I feel the same way – don’t advertise.”

In Ackman’s view, “If Bob Iger would carefully examine the facts, he would probably continue to advertise on X, but Disney bows to public pressure rather than do the right thing. Meanwhile Disney has invested heavily in TikTok, potentially making children’s videos teach other teens how to be anorexic and worse.” Ackman echoes activist investor Nelson Peltz’s proxy fight plan to shake up Disney’s board Wrote, “I’m sure when Nelson Peltz joins the Disney board they can fix this.”

According to Ackman, TikTok, Instagram, Facebook and others contain “huge amounts of problematic content, anti-Semitic and otherwise, but advertisers don’t boycott those platforms.”

Of course, there is a significant difference between hateful content appearing on a social platform and the owner of such a platform personally promoting such content. This is not the first time Musk has been identified as promoting anti-Semitic elements: In May 2023, he wrote on Twitter comparing billionaire financier and philanthropist George Soros to the Jewish supervillain from Marvel’s X-Men series , “Soros reminds me of Magneto.” Musk said that Soros, like Magneto, “wants to destroy the fabric of civilization.” Meanwhile, Musk said in response to someone who posted on Was ‘worse’ than.” Other Races,” calling it “so messed up” and adding, “It’s time to end this nonsense and shame anyone who perpetuates these lies!”

Following Musk’s “go to hell” comment, He wrote in a post that “X is enabling an information freedom that is uncomfortable for some people.” Yaccarino was previously head of ad sales at NBCUniversal, which has curbed spending on X along with parent company Comcast and Disney, Apple, IBM, Paramount, Warner Bros. Discovery and Lionsgate, among others.

During his DealBook appearance, Musk apologized for posting “You told the real truth” to a person on are promoting dialectical hatred” They claim they want people to stop using it against them.” Musk said he meant to imply that persecuting groups funded by Jewish organizations were calling for attacks on the Jewish people and that “it is foolish to support groups that seek your destruction.”

In his post Thursday, Ackman said it was clear to him that “Musk did not intend to be anti-Semitic when he responded with the ‘real truth’ tweet, and he followed up with further clarification.” Ackman’s Pershing Square is an investor in X “in support of free speech,” he said. “Whether we make a profit on our investment or not is not important to us as we never intend to sell our interest.”

Referring to Ackman’s post, Musk commented, “Thank you.”

According to Forbes, Ackman currently has a net worth of $3.7 billion. In April 2022, Ackman’s Pershing Square Holdings sold its entire stake of Netflix shares after the streamer reported unexpected subscriber losses, leading to a loss of approximately $400 million. Since then, the value of Netflix’s stock has more than doubled.

Pictured above: Elon Musk, Bill Ackman


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