Europe’s richest man is suing Elon Musk’s social media network X, claiming the platform is using his newspapers’ content without paying for it. Bernard Arnault is taking the social media site to court as part of legal proceedings jointly brought by Le Parisien and Les Echos , the French daily newspapers which are owned by his luxury empire LVMH. Elon Musk and Bernard Arnault have traded places on top of the world’s rich list numerous times in recent years.
Credit: Instagram The lawsuit, which is also supported by Le Figaro and Le Monde , claims the newspapers are due payment under rules that allow news outlets to receive remuneration from digital platforms for the distribution of their content. The titles said that X, formerly known as Twitter, had never agreed to open negotiations with French news publishers, unlike Google and Facebook owner Meta. Loading The lawsuit, which will be heard in Paris next May, sets up a courtroom showdown between two of the world’s richest men.
Arnault, who heads brands including Louis Vuitton, Christian Dior and Givenchy, has traded places with Musk as the world’s richest man numerous times in recent years , though the Tesla and Space X boss currently holds the title. The French magnate’s fortune has plunged by $US36 billion ($55 billion) so far this year to $US171.5 billion amid weakening demand from China for luxury goods.
Conversely, Musk’s wealth has surged, particularly since the election of Donald Trump as the 47th Preside.
