EU issues €120 million fine to Elon Musk’s X under rules to tackle disinformation

The European Commission on Friday issued a €120 million ($139 million) fine to Elon Musk’s social media platform X for breaking EU laws that require such services to be transparent with users and external researchers.

The specific laws, under the Digital Services Act (DSA), are intended to provide the European Union with a mechanism to tackle online disinformation and influence operations. The largest social media platforms must safeguard their users from manipulation or face fines of up to 6% of their global turnover.

X, which is privately owned by Musk, does not have a duty to publicly declare its global turnover to shareholders. Musk’s net worth is currently estimated to be around $490 billion, making the fine equivalent to about 0.0245% of his wealth.

Read more at The Record