(Bloomberg) — Hedge fund manager Bill Ackman defended Elon Musk after major advertisers pulled ads from social media site X over antisemitic commentary.

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Musk received backlash after he agreed with a post that said Jewish people hold a “dialectical hatred” of white people. “You have said the actual truth,” the billionaire owner of X posted on Wednesday.

Read more: Musk’s Comment and Rampant Antisemitism on X Fuel Outrage

That prompted criticism from the White House and shareholders of Tesla Inc., Musk’s only publicly traded company, with some investors saying he should be suspended from his position as chief of the electric carmaker. Advertisers from Apple Inc. to Walt Disney Co. have also suspended or halted spending on X.

Ackman, who is chief executive officer of Pershing Square Capital Management, is worth roughly $2.2 billion, according to Bloomberg’s Billionaires Index. A frequent contributer to social media, he has been vocal in calling for his alma mater Harvard to take steps to address antisemitism.

Read more: Ackman Urges Suspensions at Harvard to Tackle Antisemitism

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