General Motors will suspend advertising on Twitter as the social media giant continues to find its footing under the new ownership of Elon Musk.
“We are engaging with Twitter to understand the direction of the platform under their new ownership. As is normal course of business with a significant change in a media platform, we have temporarily paused our paid advertising. Our customer care interactions on Twitter will continue,” the carmaker told Fox Business.
The announcement came a day after Musk took ownership of the social media giant and immediately fired several top executives. In an effort to assure advertisers, Musk on Thursday said the platform would not be a “free-for-all hellscape” following the $44 billion acquisition.
“Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!” Musk said in a lengthy statement titled “Dear Twitter Advertisers.” “In addition to adhering to our laws of the land, our platform must be warm and welcoming to all, where you can choose your desired experience according to your preferences.”
Some have worried about what, if any, regulations on hate speech would be imposed under the new ownership and how ads could be affected. Fox Business has reached out to Ford and Stellantis, the parent company of several car brands, including Fiat, Jeep and Dodge.
“There is currently great danger that social media will splinter into far right wing and far left wing echo chambers that generate more hate and divide our society,” explained Musk, who owns GM rival Tesla. “In the relentless pursuit of clicks, much of traditional media has fueled and catered to those polarized extremes, as they believe that is what brings in money, but in doing so, the opportunity for dialogue is lost.”
“That is why I bought Twitter. I didn’t do it because it would be easy. I didn’t do it to make more money. I did it to try to help humanity, whom I love,” he continued. “And I do so with humility, recognizing that failure in pursuing this goal, despite our best efforts, is a very real possibility.”
Former President Donald Trump wished Elon Musk the best with Twitter but stressed he will stay on his own Truth Social, a social media platform he touts as “better,” “safe” and that feels “like home.”
Musk, a self-described free speech absolutist, has suggested that he would loosen content moderation practices for Twitter and would eliminate lifetime bans from the platform, but Trump told Fox News Digital that the new policy will not affect how he uses social media.
Fox Business reporters Brooke Singman and Daniella Genovese contributed to this report.