Tag Archives: Twitter

Axios reports: Fidelity has again marked down the value of its shares in X Holdings, which the mutual fund giant helped Elon Musk buy for $44 billion when the company was known as Twitter. Fidelity believes that X is worth 71.5% less than at the time of purchase, according to a new disclosure that runs through the end of November …

Reuters reports: Elon Musk’s X on Thursday failed to block a California state law that requires social media companies to publicly disclose how they moderate certain content on their platforms. X, formerly known as Twitter, in September sued California to undo the content moderation law, saying the law violated its free speech rights under the U.S. Constitution’s First Amendment and …

Reuters reports: Twitter violated contracts by failing to pay millions of dollars in bonuses that the social media company, now called X Corp, had promised its employees, a federal judge ruled on Friday. Mark Schobinger, who was Twitter’s senior director of compensation before leaving Elon Musk’s company in May, sued Twitter in June, claiming breach of contract. Schobinger’s suit alleged …

The Guardian reports: The social media platform X, formerly Twitter, is being investigated for allegedly breaking EU law on disinformation, illegal content and transparency, the European Commission has announced. The decision to launch formal infringement proceedings against the company, owned by the US billionaire Elon Musk, comes weeks after X was asked to provide evidence of compliance with new laws …

Bloomberg News reports: Elon Musk’s X, the social network formerly known as Twitter, is on track to bring in roughly $2.5 billion in advertising revenue in 2023 — a significant slump from prior years, according to people familiar with the matter. X generated a little more than $600 million in advertising revenue in each of the first three quarters of …

The Huffington Post reports: Just hours after reinstating his X account, Elon Musk joined Alex Jones for a deeply questionable conversation on X Spaces on Sunday. The tech billionaire and InfoWars host were joined by Republican presidential candidate Vivek Ramaswamy, internet influencer and suspected human trafficker Andrew Tate, and an ensemble of other conservative personalities for a 3-hour audio stream, …

The Huffington Post reports: Elon Musk has restored the X account of conspiracy theorist Alex Jones, pointing to a poll on the social media platform formerly known as Twitter that came out in favor of the Infowars host who repeatedly called the 2012 Sandy Hook school shooting a hoax. It poses new uncertainty for advertisers, who have fled X over …

Reuters reports: A former executive at Twitter Inc, now called X Corp, has filed a lawsuit claiming he was fired after Elon Musk acquired the company for objecting to budget cuts that would prevent the company from complying with a U.S. government settlement over its security practices. Alan Rosa, who was Twitter’s global head of information security, filed the lawsuit …

CBS News reports: Elon Musk’s social media platform X has fueled far-right disinformation in Ireland and played a key role in riots last month in the country’s capital Dublin, experts tell CBS News. The violent clashes erupted on Nov. 23 between about 200 civilians and riot police in central Dublin as demonstrators vented rage after a stabbing incident that left …

Reuters reports: Walmart said on Friday it is not advertising on social media platform X, one of the latest brands to say it has dropped the Elon Musk-owned site. “We aren’t advertising on X as we’ve found other platforms to better reach our customers,” a Walmart spokesperson said. The platform has struggled to retain advertisers since Musk acquired the company …

The New York Times reports: Advertisers said on Thursday that they did not plan to reopen their wallets anytime soon with X, the social media company formerly known as Twitter, after its owner, Elon Musk, insulted brands using an expletive and told them not to spend on the platform. At least half a dozen marketing agencies said the brands they …

Deadline reports: Elon Musk made plain his view of the widespread advertiser withdrawal this month from X, formerly Twitter. “Don’t advertise,” he advised any marketer with misgivings. “Somebody’s going to try to blackmail me with advertising?! Blackmail me with money? Go f–k yourself. Go. F–k. Yourself. Is that clear? I hope it is.” The remarks came at the beginning of …

The Hill reports: The judge presiding over tech billionaire Elon Musk’s lawsuit against Media Matters for America has recused himself from the case, according to court documents. In a notice filed with the court on Tuesday, Judge Mark Pittman of the U.S. District Court in Northern Texas wrote that he was recusing himself from the case and requested the clerk …

Futurism reports: After getting in so much trouble over co-signing antisemitism that he had to go on an apology tour to Israel, noted tech weirdo Elon Musk tweeted a Pizzagate meme — and then deleted it, seemingly realizing that once again he had self-inflicted a terrible self-own. In a post made on the social network he owns that’s still visible …

Reuters reports: Tech entrepreneur Elon Musk, accused by civil rights groups of amplifying anti-Jewish hatred on his X social media platform, will meet Israeli President Isaac Herzog on Monday along with Israelis whose relatives have been held by Hamas in Gaza. Herzog’s office announced the meeting on Sunday night, saying, “In their meeting, the president will emphasize the need to …

The New York Times reports: X, the social media company formerly known as Twitter, could lose as much as $75 million in advertising revenue by the end of the year as dozens of major brands pause their marketing campaigns after its owner, Elon Musk, endorsed an antisemitic conspiracy theory this month. Internal documents viewed by The New York Times this …

The Jerusalem Post reports: Tesla and X owner Elon Musk is expected to visit Israel next week, during which he will visit towns near the Gaza border that were attacked by Hamas on October 7, N12 reported on Thursday. According to the report, Musk will meet with President Isaac Herzog and Prime Minister Benjamin Netanyahu during his visit. The visit …

The Street reports: Elon Musk, who has more than 163 million followers, vehemently agreed with a user who accused Jews of pushing “hatred against whites.” Musk then criticized the Anti-Defamation League in part for pushing this so-called antiwhite racism. Musk never once provided evidence or examples behind these claims. Musk has since maintained that he is not antisemitic, going so …

CNN reports: Ben Brody says his life was going fine. He had just finished college, stayed out of trouble, and was prepping for law school. Then, seemingly out of nowhere, Elon Musk used his considerable social media clout to amplify an online mob’s misguided rants accusing the 22-year-old from California of being an undercover agent in a neo-Nazi group. The …

The Texas Tribune reports: Attorney General Ken Paxton announced an investigation Monday evening into Media Matters for possible fraudulent activity in response to the media watchdog group’s report last week that prompted companies to pull advertisements from X, the site formerly known as Twitter. Earlier on Monday, X CEO Elon Musk filed a federal lawsuit in the Northern District of …