European Union warns: "X" platform fines may take into account the income of many of Musk's companies
On October 17, the European Union warned that revenue from Musk's other businesses, including SpaceX and Neuralink, could be taken into account when calculating fines against social media platform "X". Such a practice would significantly increase potential penalties for violating content moderation rules. Under the European Union's Digital Services Act, the European Union can fine online platforms up to 6% of their global annual revenue if they fail to address illegal content and misinformation, or fail to comply with transparency rules. Regulators are considering whether sales from SpaceX, Neuralink, xAI and theBoringCompany should be included in addition to revenue generated by social networks when determining potential fines against "X". One of the people said Tesla's sales would not be affected by the calculation because it is a public company and not under Mr. Musk's full control. The potential amount of the fine, which could be avoided if X finds a way to address regulators' concerns, is still under discussion.