Hedge fund manager Bill Ackman has come to the defense of Elon Musk following the withdrawal of major advertisers from social media site X due to antisemitic comments. Musk sparked controversy when he supported a post that claimed Jewish people have a deep-seated hatred towards white people. Despite facing backlash from the White House, Tesla shareholders, and advertisers such as Apple and Disney, Ackman has stood by Musk.
Ackman, the CEO of Pershing Square Capital Management, is estimated to be worth around $2.2 billion. In October, he expressed interest in a potential deal with X Corp, a social media platform, as part of an investment vehicle targeting private companies looking to raise $1.5 billion or more. He has also invested $10 million in the platform through his firm’s foundation.
Notably, Ackman has been an active participant on social media, using his platform to call for action against antisemitism at his alma mater, Harvard. This move highlights his commitment to combating hate speech and discrimination.
The fallout from Musk’s comments has been significant, with calls for his suspension as the chief of Tesla, his only publicly traded company. Advertisers’ decision to suspend or halt spending on X reflects the broader repercussions faced by the platform due to the controversy.
As the debate surrounding Musk’s remarks continues, Ackman’s support adds an interesting perspective. With his substantial investment in X and his vocal stance against antisemitism, Ackman’s defense of Musk may carry some weight in the ongoing discussion.
