Musk seeks to reassure advertisers on Twitter

Elon Musk is seeking to reassure big companies that advertise on Twitter that his chaotic takeover of the social media platform won’t harm their brands. He acknowledged that some “dumb things” might happen on his way to creating a better, safer user experience. The latest erratic move on the minds of major advertisers was Musk’s decision to abolish a new “official” label on high-profile Twitter accounts just hours after introducing it. Twitter began adding the gray labels to some prominent accounts, including brands like Coca-Cola, Nike and Apple. A few hours later, the labels started disappearing.

Also, Musk, Twitter’s new owner and Tesla’s CEO has sold nearly $4 billion worth of Tesla shares, according to regulatory filings. Musk, who bought Twitter for $44 billion, sold 19.5 million shares of the electric car company, from Nov. 4 to Nov. 8, according to Tuesday’s filings. He sold $7 billion of his Tesla stock, in August, as he worked to finance the Twitter purchase he was trying to get out of at the time.