Elon Musk is facing a huge fine for failing to comply with EU law and allegations of spreading misinformation and lack of moderation at X

In July 2024, the European Commission warned the management of the social network X and above all its owner Elon Musk to take measures to enforce the Digital Service Act (DSA) and strengthen the fight against malicious content and the spread of misinformation on X.

Here's What We Know

Musk ignored the EU requirements, so now he faces a fine of 6% of his annual income.

Moreover, according to Bloomberg, we are not talking about the income of X, but about all the income of the companies that belong to Ilon Musk, which, let's recall, are SpaceX, The Boring Company, Neuralink and the AI startup. Note that Tesla did not make the list because it is a public company over which Musk does not have full control.

In addition, the EU can also fine Ilon Musk personally as the owner of X, which does not fulfil the law.

So far, the European Commission has not made a final decision neither on fines, nor on their amount.

As a reminder, his colleague Pavel Durov - the creator of Telegram - is facing jail time due to the lack of control and moderation in his messenger and is considered to be involved in drug trafficking, extremism, terrorism, cyberbullying, paedophilia and posting illegal content.

Source: Bloomberg