EU Considers Major Fines on Musk's X Platform

The European Union is considering imposing significant fines on Elon Musk's social platform, X, due to potential violations of the Digital Services Act (DSA), which mandates the removal of illegal content and disinformation. The EU Commission's probe into X could result in fines of up to 6% of annual global revenue, and regulators are contemplating including revenues from Musk's other companies such as SpaceX, Neuralink, xAI, and the Boring Company, although Tesla is exempt as it is not under Musk's sole control. This approach could drastically increase the penalties facing Musk, as the EU seeks to hold him personally accountable for X's compliance. The investigation stems from concerns over X's moderation policies and transparency, especially after Musk's decision to replace the traditional verification system with a subscription-based model, which the EU preliminarily views as deceptive. Musk has expressed opposition to the EU's actions, framing them as infringements on free speech, and has vowed to contest any penalties in court. The EU's final decision on whether to include Musk's broader business empire in the calculations will be crucial in determining the financial impact on Musk and his companies.