• Several media outlets in France are suing Elon Musk’s microblogging site, X, for violating content rights.
• Media companies, most owned by Europe’s richest man, Bernard Arnaut, have accused X of distributing their content without payment.
• Trial will put Arnault and Musk, the world’s richest man, on a collision course

Legit.ng’s Pascal Oparada reported on technology, energy, stocks, investing and economy for over a decade.

Many major French media groups, including two publications owned by Bernard Arnault, the former richest man in the world, are suing social media platform X, accusing it of distributing their content without payment.

Newspapers such as Les Echos, Le Parisien, Le Figaro, Le Monde, Courrier International, Huffington Post and Le Nouvel Obs stated in a press release on Tuesday November 12, 2024 that they were launching a class action against the social network. owned by Elon Musk, the richest man in the world.

Bernard Arnault exercises considerable influence in France

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Media groups have accused X of violating neighboring rights, which are owed when social media platforms republish news content.

Arnault is the founder and CEO of luxury brand LVMH and one of the most influential figures in European business.

According to the Bloomberg Billionaire Index, Arnault is the richest man in Europe, with a net worth of $164 billion.

Arnault and his family have massive influence in France and stakes in luxury fashion, real estate, entertainmentand other industries.

The trial will put Arnault and Musk, the world’s richest man, on a collision course.

Last week, the AFP sued X over the same issue and a court hearing was set for May 15, 2025.

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The media and the 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 court ruled in favor of the media companies and gave X two months to provide data allowing them to assess the revenue it earns from their content.

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This development comes as Elon Musk’s wealth reached a record level of 320 billion dollars after the election of Donald Trump.

The South African-born American billionaire has earned more than $90 billion since this year and is considered the world’s richest individual in modern history.

US President-elect Trump nominates Elon Musk

Legit.ng earlier reported that Donald Trumpthe President-elect of the United States, named Elon Musk as head of the newly created Department of Government Effectiveness (DOGE) before his next administration.

Trump also announced that biotech investor Vivek Ramaswamy would work with the founder of Tesla and SpaceX on the project, adding that the new department’s main goal was to “dismantle” government bureaucracy.

The duo will be responsible for reducing excessive regulations and unnecessary spending. The move is part of Trump’s plan to pursue large-scale structural reform, with Musk and Ramaswamy providing external advice to the White House.

Source: Legit.ng