EU May Fine Musk's X Up to 6% of Global Revenue, Including SpaceX and Neuralink Sales

Oct 17, 2024, 10:08 AM

The European Commission has decided that Elon Musk's social media platform X (formerly Twitter) will not be designated as a 'gatekeeper' under the Digital Markets Act (DMA), exempting it from additional regulations aimed at ensuring fairness in digital markets. Despite this, the European Union has warned that it may calculate fines against X by including revenue from Musk’s other businesses—such as SpaceX, Neuralink, xAI, and The Boring Company—under the bloc’s Digital Services Act (DSA). This move could significantly increase potential penalties for X if it fails to comply with content moderation rules aimed at addressing illegal content and disinformation, which can amount to fines up to 6% of global annual revenue. The EU is considering this approach to address concerns over illegal content and disinformation on the platform.