Skip to content

Analysts Debate Fallout As Elon Musk Faces Backlash Over Anti-Semitic Post

Advertisers Pull Out, Crisis Management Guru Weighs In
Getting your Trinity Audio player ready...

After Elon Musk kicked up a controversy over his backing of an anti-Semitic post, analysts debated about how the crisis would play out.

“There is an “ongoing career death watch” for Elon Musk, which hasn’t gone too far and for 52 years, there has not been any sanctions,” said crisis management guru Eric Dezenhall in an interview with CNBC on Friday. 

His reaction to the controversy would be based on what he thinks about whether the whole unsavory will pose a danger to X, Tesla, Inc.  or SpaceX, he said. If the billionaire thinks, it is more of the same, he will continue, he added.

“Alternatively, if Elon Musk personally feels the peril, he will begin processing which of the issues he should apologize for, when to apologize and when to establish rules and policies to prevent this sort of development,” said Dezenhall. 

“But there is no sign really that, that is where they are yet,” he added.

It’s tough to advise people like Musk, who thinks they are consistently right when everybody else says you are wrong, the chairman of Dezenhall Resources said. What happens is that the people around the person try to dive in front of the bullets to take it, he said, referring to X CEO Linda Yaccarino facing the heat for Musk’s misstep.

Following Elon Musk’s comments several advertisers including Apple, IBM and NBCUniversal and its parent Comcast have all decided to pull out advertisements from the X platform. This could put the social media company’s revenue under further pressure.

After 164 rabbis and activists urged Apple, Google, Amazon, and Disney to cease their advertising, Axios reported on Friday that Apple would be pausing its advertising on the platform.

In reaction to Musk’s statement, Lions Gate Entertainment, IBM, and the European Commission have all suspended advertisements on the platform.

Elon Musk, on his part, justified his stance. In a post on X, Elon Musk said, “This past week, there were hundreds of bogus media stories claiming that I am anti-Semitic. Nothing could be further from the truth.” 

“I wish only the best for humanity and a prosperous and exciting future for all,” said Musk.

© 2023 Zenger Zenger News does not provide investment advice. All rights reserved.

Produced in association with Benzinga

“What’s the latest with Florida Man?”

Get news, handpicked just for you, in your box.

Check out our free email newsletters

Recommended from our partners