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- Several media houses in France are suing Elon Musk’s microblogging site, X, over content rights violations.
- The media houses, mostly owned by Europe’s wealthiest man, Bernard Arnaut, accused X of running their content without payment
- The lawsuit will put Arnault and Musk, the World’s wealthiest man, on a collision course
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment, and the economy for over a decade.
Many top French Media Groups, including two publications owned by Bernard Arnault, the former World’s wealthiest man, are suing social media platform X, accusing it of running their content without payment.
Newspapers such as Les Echos, Le Parisien, Le Figaro, Le Monde, Courrier International, Huffington Post, and Le Nouvel Obs claimed in a statement on Tuesday, November 12, 2024, that they were launching a class action suit against the social media platform owned by Elon Musk, the World’s richest man.
Source: Getty Images
Bernard Arnault holds massive influence in France
The media groups accused X of flouting neighboring rights, which are due when social media platforms republish news content.
Arnault is the founder and CEO of the luxury brand LVMH and one of the most influential figures in European business.
According to the Bloomberg Billionaire Index, Arnault is Europe’s wealthiest man, with a net worth of $164 billion.
Arnault and his family have massive influence in France and stakes in luxury couture, real estate, entertainment, and other industries.
The lawsuit will put Arnault and Musk, the World’s wealthiest man, on a collision course.
Last week, AFP sued X over the same issue, and a court hearing has been set for May 15, 2025.
Elon Must emerges as one of the World’s wealthiest in modern history
The media houses and AFP had already requested an emergency injunction against the microblogging site, which they accuse of refusing to negotiate.
Fortune reports that on May 24, a Paris tribunal agreed with media firms and gave X two months to provide data that would enable them to assess the income it earns from their content.
The development comes as Elon Musk’s wealth hit an all-time high of $320 billion after Donald Trump’s election.
The South Africa-born US billionaire has gained over $90 billion since this year and has been touted as the World’s wealthiest individual in modern history.
US President-elect Trump appoints Elon Musk
Legit.ng earlier reported that Donald Trump, the United States president-elect, has appointed Elon Musk as the head of the newly created Department of Government Efficiency (DOGE) ahead of his forthcoming administration.
Trump also announced that the biotech investor Vivek Ramaswamy would work with the founder of Tesla and SpaceX on the project, adding that the primary objective of the new department was to "dismantle" government bureaucracy.
The duo will be responsible for slashing excess regulations and wasteful expenditures. This move is part of Trump's plan to drive large-scale structural reform, with Musk and Ramaswamy providing external advice to the White House.
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Source: Legit.ng
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