Elon Musk, the founder of SpaceX and owner of both the rocket firm and the social media platform, announced in a tweet on Monday that the company has purchased an advertising package on Twitter for its satellite broadband provider Starlink.
“SpaceX Starlink purchased a small, not very substantial, ad package to examine the efficiency of Twitter advertising in Spain and Australia. Same with Facebook, Instagram, and Google,” Musk tweeted.
Musk told advertisers that he wanted to use social media to find the truth
The decision was made at a time when advertisers are leaving Twitter, which relied on ad sales for more than 90% of its second-quarter income, out of concern that Musk will change the company’s content moderation policies.
Numerous businesses, including General Motors Co., General Mills, Mondelez International, and Volkswagen AG, have halted their platform advertising since he purchased the business last month.
Last week, the CEO of Tesla Inc. and SpaceX told advertisers that he wanted to use social media to find the truth and eliminate phoney accounts.
Twitter had experienced a “massive” drop in revenue
A few days after claiming that Twitter had experienced a “massive” drop in revenue and blaming activist groups for pressuring advertisers, he also suggested that the social media platform might go bankrupt.
After Musk responded, “I have too much work on my plate, that is for sure,” when questioned about his leadership as the EV producer on Twitter, Tesla shares dropped about 2% in premarket trade.
Since Musk decided to purchase Twitter in April, shares of the most valuable automaker in the world have been under pressure due to concerns that he would be distracted when Tesla has difficulty meeting demand due to production limitations.
