ToplineA federal court in Texas dismissed a lawsuit Elon Musk’s X Corp brought against a group of advertisers in 2024 alleging they conspired to illegally boycott the social media platform he purchased in 2022, finding the social media company formerly known as Twitter did not show the advertisers violated antitrust laws.Elon Musk’s X Corp brought the lawsuit against a group of advertisers in 2024.Getty ImagesKey FactsIn a decision on Thursday, U.S. District Judge Jane Boyle found that X failed to state its claims of harm under the Sherman Antitrust Act, because it did not allege the advertisers “acted to restrain competition.”In the 2024 suit, X alleged the World Federation of Advertisers and a group of international companies, including Mars, CVS Health, Nestle, Ørsted, Lego, Shell, Pinterest and Tyson Foods, conspired as members of a coalition called the Global Alliance for Responsible Media to “collectively withhold billions of dollars in advertising revenue” from X after Musk purchased the site for $44 billion in 2022.The companies asked the court to dismiss the suit in filings last year, arguing the companies made the decisions to end advertising on the site independently, and X failed to state an injury or find a “plausible conspiracy.”“The only harm X has asserted is that its customers collectively chose X’s competitors over X,” Boyle wrote, adding “therefore, although a group boycott is alleged, there is no antitrust violation here.”X did not immediately respond to a request for comment from Forbes.Key BackgroundMusk closed his purchase of Twitter for $44 billion in October 2022, and quickly moved forward with rapid changes, including rebranding it as “X” in 2023. Advertisers fled the platform over concerns about antisemitic content. Musk was initially defiant over the advertiser exodus—telling companies that pulled their ads to “go f—- yourself” at a New York Times Dealbook conference in 2023. X filed the lawsuit against the advertisers in August 2024, claiming the companies involved in the Global Alliance for Responsible Media “abruptly and in lockstep, boycott Twitter by discontinuing entirely or substantially reducing their previously substantial advertising purchases from Twitter.” The companies disputed this claim, and in a May 2025 filing, the defendants argued the lawsuit was the company’s “attempt to use the courthouse to win back the business X lost in the free market when it disrupted its own business and alienated many of its customers.”Forbes ValuationWe estimate Elon Musk’s net worth at $827.2 billion as of Thursday afternoon. This makes Musk the wealthiest person in the world, well ahead of the second-wealthiest person, Google co-founder Larry Page, who is worth about $240.4 billion. His wealth is primarily derived from his 12% stake in Tesla and 43% stake in SpaceX—both companies where he serves as CEO.