Twitter’s ad revenue in the US has plunged by more than half since Elon Musk took the company over, according to reports. Internal documents show that Twitter made $88 million worth of ad sales between April and May this year, The New York Times reported, marking a 59 per cent drop from the same period last year. Shortly after Mr Musk’s takeover in October 2022, several key sales executives at Twitter where fired, while controversial figures like Donald Trump and Andrew Tate were allowed to return to the platform. Following the sackings and change in policy, several high profile brands confirmed that they would no longer be advertising through Twitter due to concerns with the platform and its leadership. Twitter’s valuation also plunged in the months following the $44 billion takeover deal, with Mr Musk saying in March that the company was worth $20 billion. Investment firm Fidelity has since estimated Twitter to be worth $15 billion. In April, Mr Musk said the firm was “roughly breaking even”, claiming that “almost all advertisers have come back or said they are going to come back”. Last month, Mr Musk announced that he would be stepping down as CEO of Twitter in order to focus on overseeing product, software and sysops as the company’s chief technology officer. His replacement, Linda Yaccarino, appears to have been selected based on her success and connections within the advertising world, having served as an executive for NBCUniversal. Ms Yaccarino and Mr Musk appeared together at a public event earlier this year, giving an indication that her focus will primarily be aimed at developing and improving relationships with advertisers, whose purchases make up the majority of Twitter’s revenue. One potential route to achieving this is by reinstating Twitter’s Influence Council of marketers and advertising executives, which allowed industry figures to give direct feedback on how they wanted the platform to look before it was disbanded. Read More What is superintelligence? How AI could wipe out humanity – and why the boss of ChatGPT is doomsday prepping

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Carlos Sainz has clarified that he is “completely well and ready to race” at this weekend’s Monaco Grand Prix after rumours he had suffered an injury. Reports this week suggested that the Ferrari driver had hurt himself playing in the annual Monaco charity football match. The Spaniard appeared to have significant strapping on his thigh after being substituted. But Sainz has stressed on social media that he will good to go as the race weekend starts with the opening two practice sessions on Friday. “Hi everyone. Just wanted to let you know that I am well and completely ready to race this weekend in Monaco,” Sainz said. “What happened yesterday was simply a contact during the traditional charity football match, but it was not an injury. “I enjoyed playing football as I always do and now I am really looking forward to the weekend.” Sainz is currently fifth in the Drivers’ Championship standings, two places and ten points ahead of teammate Charles Leclerc, though without a podium finish so far this season. He has a good recent record in Monaco, finishing second in each of the last two years, and will hope for an improved performance from his Ferrari on Sunday. Both Sainz and Leclerc have been battling significant inconsistency so far this campaign despite encouraging showings in qualifying. “[We need to] keep trying things,” Sainz said after a fifth placed finish at the Miami Grand Prix. “We are trying every weekend, changing the car every weekend. We just need to find out why are we on the fight for pole position on Saturdays and one second off on Sundays. “We just need to keep digging, keep understanding because it’s going to give us a better understanding for the rest of the year.” Read More Bernie Ecclestone would be surprised if Lewis Hamilton wanted to leave Mercedes F1 chief hails ‘exciting’ development with Honda set for grid return Lewis Hamilton ‘receives multi-million pound offer’ to make major change F1 2023 calendar: Every race this season Bernie Ecclestone would be surprised if Lewis Hamilton wanted to leave Mercedes F1 chief hails ‘exciting’ development with Honda set for grid return

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