Bernard Arnault, Europe’s wealthiest individual, has initiated a lawsuit against Elon Musk’s social media platform X, accusing it of using content from his newspapers without proper payment. The legal case has been launched jointly by Le Parisien and Les Echos, two prominent French daily newspapers owned by Arnault’s luxury conglomerate LVMH.
The lawsuit, which also has the backing of other major French newspapers, including Le Figaro and Le Monde, asserts that these publications are entitled to compensation according to regulations that require digital platforms to remunerate news outlets for sharing their content.
The publications involved claim that X, formerly known as Twitter, has consistently refused to engage in negotiations with French news publishers, a stance that contrasts with agreements made by platforms like Google and Meta, the parent company of Facebook.
This legal dispute, set to be heard in a Paris court next May, will pit Arnault against Musk, two of the wealthiest figures globally. Arnault, whose portfolio includes luxury brands such as Louis Vuitton, Christian Dior, and Givenchy, has frequently alternated with Musk for the title of the world’s richest man. Currently, the Tesla and SpaceX CEO holds the top position.
Arnault’s net worth has dropped by $36 billion this year, bringing it down to $171.5 billion, largely due to a slowdown in demand for luxury goods from China. In contrast, Musk’s fortune has seen a significant rise, especially following Donald Trump’s recent election as the 47th President of the United States. As a prominent supporter of the Republican candidate, Musk is expected to take on a senior role in the new administration. His wealth has surged by $105.5 billion this year, reaching $334.5 billion.
The lawsuit from Arnault’s media holdings follows a favorable ruling in May, when a Paris judge decided that X had two months to share commercial data with a group of French publishers, which included Télérama, Courrier International, Le Huffington Post, Malesherbes Publications, and Le Nouvel Obs.
The newspapers involved in the case have stated that X has not complied with the court’s order, accusing the platform of deliberately avoiding its legal responsibilities. They emphasized that revenue from content rights would support investments in media diversity, independence, and quality—key factors for safeguarding freedom of expression and the right to information in a democratic society.
This legal challenge is grounded in a 2019 European directive, which mandates that newspapers, magazines, and press agencies be compensated when digital platforms reuse their content.
Have you read?
The Top 100 Highest-paid CEOs in America.
Countries With Lowest Rate of Economic Growth in 5 Years.
Countries Most in Debt to China.
Most Attractive Cities for Global Talent.
Largest economies in the world by Share of Global GDP.
Add CEOWORLD magazine to your Google News feed.
Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.
Copyright 2024 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine’ prior written consent. For media queries, please contact: info@ceoworld.biz