In less than a month since the billionaire entered office, Elon Musk has lost half of the top 100 twitter advertisers, the survey found. 50 of the top 100 advertisers have reportedly spent close to $2 billion on the platform since 2020, and more than $750 million on advertising in 2022 alone, according to media Matters in America. In addition, as of november 21, seven more advertisers, in addition to those who appear to have stopped advertising, appear to be decreasing their twitter advertising to nearly nothing.

According to the analysis, these seven advertisers have spent more than $255 million on twitter since 2020 and around $118 million in 2022. The analysis tracked a number of significant businesses that can be referred to as "silent quitters" that are gradually ceasing to invest in advertising on social media. According to the study, this comes after businesses like Chipotle Mexican Grill Inc., Ford, and Chevrolet released statements announcing their plans to pause their twitter advertisements.

Despite these losses in advertising, Elon Musk has persisted in his brand-unsafe behaviour, amplifying conspiracies, reintroducing banned accounts like that of the former US President Donald Trump, courting and interacting with far-right accounts, and putting in place a haphazard verification system that allowed fraudsters and extremists to buy blue checks.

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