That conspiracy theory motivated the killer of 11 worshipers at the Tree of Life synagogue in Pittsburgh in 2018 - the deadliest attack against Jewish people in American history. Last Wednesday, in an X post to his 164 million followers, Musk endorsed an antisemitic conspiracy theory, which claims that Jewish communities promulgate hate against white people. Some of that hateful content has been embraced by Musk, the world’s richest man. So far, only two states, Italy and Hungary, have done so, a commission spokesperson told CNN.Ī tidal wave of antisemitism, Islamophobia and misinformation has engulfed social media platforms in recent weeks since the unprecedented October 7 attack by Hamas, followed by air strikes and a ground offensive by Israel against the Hamas-controlled enclave of Gaza. However, a fine is unlikely until next year as each of the EU’s 27 member states first needs to appoint national “digital services coordinators” - with the power to impose penalties - by February 17. X did not respond to a CNN request for comment. That means, should the European Commission find that X has broken DSA rules, the company could be fined as much as $180 million. Musk, who became the owner of X a little over a year ago, expects the company to generate $3 billion in revenue this year, according to a Reuters report in July. Under the DSA, companies found to have flouted its rules can be fined up to 6% of their annual global revenue. Social media companies operating in the EU are bound by obligations set out in the Digital Services Act, landmark legislation, enacted in August, that seeks to regulate large tech companies more stringently and protect people’s rights online. It has also asked TikTok and Facebook parent Meta for similar information. The commission is currently reviewing X’s response and deciding on its next steps. Pro-Nazi posts next to Apple ads: Elon Musk’s X sues watchdog for its damning report In October, a few days after Palestinian militant group Hamas launched a deadly attack on Israel, the European Commission asked X to provide details of the actions it was taking to combat the spread of “illegal content and disinformation” on its platform.Įlon Musk, Chief Executive Officer of SpaceX and Tesla and owner of Twitter, gestures as he attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, France, June 16, 2023. “We have seen an alarming increase in disinformation and hate speech on several social media platforms in recent weeks,” Johannes Bahrke, a European Commission spokesperson, said Friday.īahrke said the commission had advised EU institutions “to refrain from advertising” on platforms where such content was present, adding that he could confirm only that X had been affected by the temporary ban. The European Commission, the bloc’s executive arm, could impose a fine of more than $100 million on X if the company is found to have breached tough new EU rules aimed at cleaning up digital media. Those sales came on top of more than $5.6 billion worth of stock sales last week.The European Union is pulling its advertisements from Elon Musk’s X for now, citing an “alarming increase” in hate speech and disinformation on the platform formerly known as Twitter.Ī more drastic move could come next year. Musk sold roughly $6.9 billion worth of Tesla stocks last week in one of the largest-ever stock disposals by a chief executive over a several-day period.Īccording to a regulatory filing, the Tesla CEO reported selling 1.2 million shares on November 12, worth more than $1.2 billion, reports The Wall Street Journal. Musk and Sanders have sparred previously, with the Senator telling the tech billionaire in March to "focus on Earth" instead of aiming his vast wealth at interplanetary travel.Īs the chair of the Senate's budget committee, Sanders has proposed an annual tax on the top 0.1 per cent of US households, which he claims will raise about $4.35 trillion over the next decade.ĭemocrats have put forward a proposal to tax billionaires as a way to fund President Joe Biden's social spending plans. Musk, owner of Tesla as well as SpaceX and has a personal worth estimated at around $271 billion, making him by some counts the richest person ever. Musk responded to the 80-year-old Vermont Senator by saying: "I keep forgetting that you're still alive" and later raised the possibility of selling more Tesla shares, which would require him to pay taxes. "We must demand that the extremely wealthy pay their fair share," Sanders said in a tweet. Tech billionaire Elon Musk attacked Bernie Sanders on Twitter after the US Senator demanded that the wealthy should pay their "fair share" of taxes.
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