The post EU says it’s willing to crash Elon Musk’s other businesses over X appeared on BitcoinEthereumNews.com.

Elon Musk is facing serious trouble in Europe. The European Union is considering penalizing Musk over censorship violations on X, but it could calculate those fines using revenue from his other ventures — SpaceX, Neuralink and the rest. Under the EU’s Digital Services Act (DSA), platforms can face fines as high as 6% of their annual global revenue for failing to handle illegal content and disinformation. EU targets Musk The European Commission has launched multiple investigations into X for possibly breaking the DSA. Musk owns X privately, meaning the EU might treat him as the entity responsible, not just the company. Tesla, though, is safe from this. Since it’s a publicly traded company, it doesn’t fall under Musk’s direct control. But if the EU decides to proceed, the effect could be massive. And while penalties are still being discussed, X could avoid fines if it manages to calm down the EU regulators. According to sources, X will have a chance to contest any fine. But ultimately, the decision lies in the hands of the EU Commission. Musk, being Musk, has already declared he would fight any potential DSA fine in “a very public battle in court.” At the same time, his political involvement this election cycle is ramping up. Musk has dumped $75 million into America PAC, the super political action committee he launched this year to support Donald Trump. This catapults him into the league of top political donors as he’s bankrolling a large portion of the Republicans’ campaign. The PAC is paying for get-out-the-vote campaigns in battleground states to boost turnout for Trump. A lot of that cash, $68.5 million to be precise, has already been spent supporting him. Some of these funds are going into digital ads aimed at young men, a strategy aimed at balancing Vice…

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Filed under: News - @ October 17, 2024 5:21 pm