The richest individual in Europe is suing Elon Musk’s X

Despite holding the title of the richest man in Europe, Bernard Arnault has decided to file a lawsuit against X, the social media company owned by Elon Musk. The case claims that Arnault’s newspapers have been exploited by the social media platform without proper remuneration.

This legal challenge is being brought forth by the French daily publishers Le Parisien and Les Echos and is a part of Arnault’s luxury parent company, LVMH. These newspapers state that in light of the laws defining a right for news agencies to receive payments from digital companies for content use, they should be compensated.

The case has been supported by other key French media houses like Le Figaro and Le Monde. These newspapers claim, or rather X, formally known as Twitter, has refused to pay any area of content to any French news publishers. On the other hand, both Google and Facebook’s parent company, Meta, held talks and reached deals with these publishers to pay them.

The trial over the case is to take place in Paris next May and it prepares the grounds for a possible conflict between two of the richest persons on the globe. Arnault has suffered a setback in his finances, as his net worth dropped to 171.5 billion dollars after losing 36 billion this year largely due to lower demand for high-end goods from China, while the wealth of Musk has been increasing. Indeed, Musk profits have soared after the election of the entrepreneur Donald Trump as the President of the United States.

This suit comes after a decision made by a judge in Paris last May in which it was held that within a period of two months x had to furnish business information to a set of French publishers. This development has brought to the fore existing conflicts between

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