Elon Musk’s X could see major fines in Europe as tech firms face crackdown
Elon Musk’s social media site X could face major fines over its alleged failure to police dangerous content – the latest move in an ongoing crackdown by European Union regulators against major tech firms.
The commission had announced last December that they were probing X over the spread of illegal content and misinformation related to the Israel-Hamas war.
The European Commission, the EU’s competition watchdog, is set to hit X with formal charges in the coming days, Bloomberg reported, citing people familiar with the matter.
The EU’s Internal Market Commissioner Thierry Breton is expected to announce preliminary findings before July 25.
If the EU takes formal action against X, the company could face fines of up to 6% of its global revenue.
Since X is privately held, it’s unclear how much money is on the line.
EU officials say X may have violated the Digital Services Act – a sweeping provision that took effect last August and requires the largest tech companies to moderate content, protect user privacy and address risks to the public.
TikTok and Instagram parent Meta are also under investigation.
“The formal proceedings against X are still ongoing,” a European Commission spokesperson said. “The DSA has not set any time limits for formal proceedings. The Commission will adopt a decision once it has thoroughly assessed all relevant and necessary information gathered and followed due process.”
The Post has reached out to X for comment.
Musk acquired X, the company formerly known as Twitter, for $44 billion in late 2022.
He has led a major overhaul at the company, shifting toward a subscription-based model as X faced an exodus of advertisers who were wary of the brash billionaire’s looser approach to content moderation.
The European Union has stepped up enforcement in recent months for potential violations of the DSA and a separate major competition law, the Digital Markets Act, which took effect in March and set rules governing the behavior of tech firms identified as the internet’s “gatekeepers.”
Earlier this month, officials charged Meta with violating the Digital Markets Act by forcing customers into a restrictive “pay or consent” model for ads on Instagram and Facebook.
A week earlier, the EU slapped Apple with charges for allegedly stifling developers in its App Store.
Both companies face billions of dollars in fines if they are confirmed to have breached the law.
