On January 30, Reuters reported that Amazon.com is ramping up its advertising on Elon Musk's social media platform X, according to sources familiar with the matter cited by the Wall Street Journal.
This strategic move follows Amazon's significant reduction in advertising on the platform over a year ago due to concerns regarding hate speech. Similarly, Apple ceased all advertising on X in 2023 but is reportedly exploring the possibility of running ads on the platform.
Several ad agencies, technology, and media companies had also pulled their ads from X after Musk endorsed an antisemitic post falsely accusing the Jewish community of inciting hatred against white people.
The monthly U.S. ad revenue on Musk's social media platform X has surged by a minimum of 55% year-over-year since his acquisition of the company, previously known as Twitter, in October 2022. Musk had warned that a prolonged advertiser boycott could financially jeopardize X.
Following President Donald Trump's re-election, Musk has risen as a key influential figure and now heads the Department of Government Efficiency with a mission to slash $2 trillion in government expenditure.