this post was submitted on 26 Nov 2023
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X may lose up to $75 mln by year-end on advertiser exodus - NYT (www.reuters.com)
submitted 2 years ago by Fitik@fedia.io to c/twitter@lemmy.world
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Elon Musk-owned social media company X 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, the New York Times reported on Friday.

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[–] InEnduringGrowStrong@sh.itjust.works 6 points 2 years ago (1 children)

That's kinda spare change to him though.
Even if they lost that much money every month, or $900M a year... and this somehow went on for 250 years a(nd we ignore the speculative markets for a sec), they'd still have 14 billions and would still be in the top 150 fortunes.

That's just to show how utterly fucking insane is the sheer amount of wealth one can hoard.
It's such a ridiculous amount of money that it's hard to comprehend.

[–] mateomaui@reddthat.com 6 points 2 years ago (2 children)

Funny, he’s not acting like it’s spare change. He’s in meltdown litigation mode over it.

[–] InEnduringGrowStrong@sh.itjust.works 7 points 2 years ago* (last edited 2 years ago) (1 children)

Yea I merely meant to illustrate how fucking bananas that amount of wealth is.

Sure, it's more complicated than my comment let's on.
Most of that wealth is from the speculated value of stocks which can go tits up when investors lose confidence.
He's also petty, narcissistic and vindictive, so here we are.
I wouldn't be surprised if he tried to buy one of those companies just to shut them up/down.

[–] mateomaui@reddthat.com 2 points 2 years ago

ok, that’s reasonable.

[–] DragonTypeWyvern 4 points 2 years ago

Because manchildren do what manchildren do