Ticker: Elon Musk’s X sues advertisers over alleged ‘massive advertiser boycott’; Bloomberg gives $600 million to four Black medical schools’ endowments

Elon Musk’s social media platform X has sued a group of advertisers, alleging that a “massive advertiser boycott” deprived the company of billions of dollars in revenue and violated antitrust laws.

The company formerly known as Twitter filed the lawsuit Tuesday in a federal court in Texas against the World Federation of Advertisers and member companies Unilever, Mars, CVS Health and Orsted.

It accused the advertising group’s brand safety initiative, called the Global Alliance for Responsible Media, of helping to coordinate a pause in advertising after Musk bought Twitter for $44 billion in late 2022 and overhauled its staff and policies.

Musk posted about the lawsuit on X on Tuesday, saying “now it is war” after two years of being nice and “getting nothing but empty words.”

Bloomberg gives $600 million to four Black medical schools’ endowments

Michael Bloomberg’s organization Bloomberg Philanthropies committed $600 million to the endowments of four historically Black medical schools to help secure their future economic stability.

Speaking in New York at the annual convention of the National Medical Association, an organization that advocates for African American physicians, Bloomberg, the former New York City mayor and billionaire founder of Bloomberg LP, pointed to the closure in the last century of all but four historically Black medical schools, despite the well-documented impact that Black doctors have on improving health outcomes for Black patients.

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