The tech billionaire and social media owner Elon Musk is now calling for a lawsuit against the people behind the massive X boycott, which led to advertisers leaving the platform because of his leadership. Congress opened an enormous path when it centered on the group allegedly colluding to crash X's stock in the market with their campaign.
Musk also wants criminal prosecution against the companies, entities, and organizations behind the X boycott, which took place after the Tesla CEO stepped into Twitter.
Elon Musk Wants to Sue Advertisers, Perpetrators of X Boycott
Musk is following Congress's latest move by going after organizations and companies that are allegedly controlling online speech. The social media owner claims that because of this, X is left with no choice but to pursue them with a lawsuit. In the tech mogul's words, X would file a suit against the "perpetrators and collaborators," a.k.a. people involved in this "advertising boycott racket."
In following his plans to pursue a lawsuit against these entities involved, Musk also hopes for a 'criminal prosecution' to be considered in the states.
Having seen the evidence unearthed today by Congress, 𝕏 has no choice but to file suit against the perpetrators and collaborators in the advertising boycott racket.
— Elon Musk (@elonmusk) July 11, 2024
Hopefully, some states will consider criminal prosecution. https://t.co/5W4yf1wxVO
Congress Opens Up on Collusion Accusations Against GARM
This latest fire on Musk against the advertisers and organizations who boycotted X was fueled and sparked by the US Congress when it pursued the Global Alliance for Responsible Media (GARM), claiming how they initiated the boycotts to platforms that led to these being demonetized or losing revenue.
Musk and X were at the top of the list of GARM's harms against companies. Congress claimed that the alliance instigated the boycott and colluded with companies to sabotage X's revenues. The Congress also claimed that GARM is part of the World Federation of Advertisers (WFA), representing around 90 percent of global ad spend.
Elon Musk and the X Advertiser Boycott
Since Elon Musk took over X in October 2022, many prolific creators, influencers, personalities, and brands have left the company as they disapprove of this new leadership under the tech mogul. More than a year later, Musk faced another advertiser exodus resulting from its alleged antisemitism claims, with Musk known for his dedication to free speech.
Companies like IBM, Walt Disney, Warner Bros., and others have left X and focused on other social media platforms as they denounce antisemitism, while the likes of Apple and more have only paused their ads.
Because of this, X has lost money, and its stocks tanked in the market, as its ads program is one of its main sources of revenue. X has been seeing problems here since Musk stepped in and took on the leadership role. Now, Musk is fighting back, fueled by Congress' latest focus on GARM and others involved. X is soon to take action and pursue a criminal prosecution against those responsible.
