Elon Musk Accuses EU Commission of Illegal Deal Proposition to X Amid Allegations by Thierry Breton

In a startling turn of events, Elon Musk, the world-renowned entrepreneur behind ventures such as SpaceX and Tesla, has made a significant allegation against the European Commission. Musk claims that the Commission proposed an 'illegal secret deal' to X, the platform formerly known as Twitter, which he now owns. This accusation comes amidst a backdrop of criticism from Thierry Breton, the European Union Commissioner for Internal Market, who has accused X of deceptive practices and an opaque approach to operations.

Criticism from the European Commission

Thierry Breton has been vocal about his concerns regarding X, emphasizing the necessity for platforms to uphold high standards of transparency and accountability. These standards are not only integral to user trust but also align with the European Union's values and regulations. Breton's accusations suggest that X may be falling short in these critical areas, undermining the platform's integrity.

Elon Musk's Allegations and X's Challenges

Musk's response to the charges brought by Breton is not merely defensive but contends an overreach by the European Commission. According to Musk, the Commission is said to have offered X an unsolicited deal, which he has condemned as 'illegal' and 'secret,' though details of the proposal have not been disclosed. These developments underscore the complexity and high stakes involved in managing a global social platform with implications for free speech and regulatory compliance.

Stock Market Implications

As these events unfold, they carry potential implications for the stock market, specifically for companies like Meta Platforms, Inc. META, which operates in the same digital space. Meta, headquartered in Menlo Park, California, enables global connection and sharing through a suite of products accessible via mobile devices, personal computers, and other tech gear. How the tech industry responds to regulatory pressures and public disputes like those involving X will be closely watched by investors and industry stakeholders alike.

Musk, EU, Breton