Several large companies are taking a pause on advertising on the platform until they have a better idea of how the platform will look under the leadership of Musk.
In this photo illustration, the image of Musk is shown on a computer screen. Selim Korkutata is a reporter for Anadolu Agency.
The Wall Street Journal reported Thursday that General Mills, Pfizer, Volkswagen, and Mondelez International Inc., the maker of Oreos, stopped advertising on the social network after Musk took over.
Ford and GM told Forbes last week that they won't buy ad space on the platform until they know more about it.
According to a report, Interpublic Group has told its clients to stop buying ads on social media.
According to the Wall Street Journal, another advertising firm is telling clients to stop advertising on social media.
A request for comment from Forbes was not responded to.
According to the Washington Post, Musk told investors that he wanted to triple the number of daily users who saw ads.
According to reports, Musk is planning to fire half of the staff at the micro-messaging site on Friday. Some who worked with advertisers have been fired.
Musk wrote an open letter to advertisers last week assuring them that the platform would not become a free-for-all hellscape under his leadership. Each user would have the ability to choose their experience according to their preferences.
Musk said he wanted to buy the social networking site for the good of humanity because he believes it is a digital town square where a wide range of beliefs can be debated. He suggested before purchasing the company that he would cut down on sensitivity to allow all speech protected by law and that he would allow banned figures back onto the platform. The Network Contagion Research Institiute found that use of the n-word rose more than 500% over the course of 12 days after Musk took over. Banned accounts, including Trump's, will stay in limbo for at least the next few weeks, according to Musk. A clear process for allowing banned users to return to the platform will be determined by a content moderation council, according to the billionaire. The civil rights community will be included in the council.
Musk's proposal to charge $8 a month for users to acquire or keep a verified check mark has been panned by many people. The company's debts are 25 times greater than the 400,000 accounts that have been verified for free, according to an analysis by Forbes.
It won't be enough for Musk to pay his bills on his social media accounts.
A growing list of companies are using social media.
Ford and GM say they aren't running social media ads.
According to reports, Musk plans to lay off half of the workforce.
Musk says that it cannot become a free-for-all hellscape before purchase.
Trump's Return, Potential Layoffs: What to watch for as Musk tries to buy the social networking site.
The blue checkmark will be sold for $8 a month.
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