World’s Richest Man “X” Faces $1 Billion Fine

European Union regulators plan to impose an exorbitant fine of more than $1 billion on X

Olumide Adesina•Friday, April 4, 2025•1 min read

European Union regulators plan to impose an exorbitant fine of more than $1 billion on X, the social media platform owned by Elon Musk. The New York Times story stated that the sources indicate that the outcome of the investigation remains unknown.

The penalty comes after electrodes and the trans-Atlantic haven stirred up tensions, adding to the already strained relations between the EU and the U.S, threatening to X for apparently breaching the Digital Services Act, which aims to curb the growth of illegal content and disinformation online.

The Disinformation Act places unreasonable expectations and enables social media dealers to ensure services do not host harmful content.
EU authorities are expected to announce the new penalties, including the fine and the obligatory corrective measures to the product, in the summer, most likely in July.

According to the Trump administration, Americans can’t stand the thought of European officials publicly flaunting power, regardless of the struggles brewing between them over trade and tariffs or the Ukrainian war. Those same experts believe it is plausible for EU authorities to wager on the schadenfreude over the Social Network society.

A source mentions that the fine could exceed $1 billion as a warning for other companies in the European Union.

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ABOUT THE AUTHOR See More

Olumide Adesina

Financial Market Writer

Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.