EU Plans to Increase Penalties on Musk, According to Bloomberg
The EU has allegedly cautioned Elon Musk about the possibility of imposing penalties on X, potentially factoring in revenue from his other ventures. Read Full Article at RT.com
TroibNews 
Brussels is reportedly considering the possibility of imposing penalties on Elon Musk by factoring in the revenues from his other businesses when determining fines for X.
According to Bloomberg, which cited anonymous sources, the EU may target all of Musk's private enterprises in its calculations. The move comes after Thierry Breton, the bloc’s former tech czar, accused X of inadequately managing illegal content and violating the 2022 Digital Services Act. The final decision regarding potential penalties for X now rests with Margrethe Vestager, the EU commissioner for competition.
Bloomberg’s report indicates that Musk has been cautioned that the EU is contemplating whether to include revenue from his other ventures, such as SpaceX, Neuralink, xAI, and The Boring Company, when assessing potential fines against X. It was noted that Tesla Inc’s revenue would not be factored in since it is a publicly traded entity outside of Musk's complete control.
Under the guidelines of the Digital Services Act, the EU can impose fines reaching up to 6% of a platform's annual global revenue if it fails to address illegal content and disinformation, as well as adhere to transparency regulations mandated by the bloc.
However, Bloomberg's sources clarified that no conclusive decision has been made regarding penalties for X, and discussions about the size of any potential fine are ongoing. They mentioned that the platform could potentially evade penalties if it aligns with the EU’s requirements.
While X has not officially commented on the situation, Musk has previously pledged to engage in a “very public battle in court” if the DSA fines are enforced, asserting that this will allow “the people of Europe to know the truth.”
In August, prior to an interview with former U.S. President Donald Trump, Musk was warned by Breton of facing a “full toolbox” of legal consequences should he fail to enhance censorship of “harmful content.” In a retort, Musk shared a meme advising the EU commissioner to “take a big step back and literally, f**k your own face.”
Since acquiring Twitter in 2022, Musk has expressed a commitment to transforming the platform into a space characterized by transparency and free speech, operating without censorship.
Navid Kalantari contributed to this report for TROIB News
According to Bloomberg, which cited anonymous sources, the EU may target all of Musk's private enterprises in its calculations. The move comes after Thierry Breton, the bloc’s former tech czar, accused X of inadequately managing illegal content and violating the 2022 Digital Services Act. The final decision regarding potential penalties for X now rests with Margrethe Vestager, the EU commissioner for competition.
Bloomberg’s report indicates that Musk has been cautioned that the EU is contemplating whether to include revenue from his other ventures, such as SpaceX, Neuralink, xAI, and The Boring Company, when assessing potential fines against X. It was noted that Tesla Inc’s revenue would not be factored in since it is a publicly traded entity outside of Musk's complete control.
Under the guidelines of the Digital Services Act, the EU can impose fines reaching up to 6% of a platform's annual global revenue if it fails to address illegal content and disinformation, as well as adhere to transparency regulations mandated by the bloc.
However, Bloomberg's sources clarified that no conclusive decision has been made regarding penalties for X, and discussions about the size of any potential fine are ongoing. They mentioned that the platform could potentially evade penalties if it aligns with the EU’s requirements.
While X has not officially commented on the situation, Musk has previously pledged to engage in a “very public battle in court” if the DSA fines are enforced, asserting that this will allow “the people of Europe to know the truth.”
In August, prior to an interview with former U.S. President Donald Trump, Musk was warned by Breton of facing a “full toolbox” of legal consequences should he fail to enhance censorship of “harmful content.” In a retort, Musk shared a meme advising the EU commissioner to “take a big step back and literally, f**k your own face.”
Since acquiring Twitter in 2022, Musk has expressed a commitment to transforming the platform into a space characterized by transparency and free speech, operating without censorship.
Navid Kalantari contributed to this report for TROIB News
