Elon Musk has been rowing the Twitter, aka X, boat into a deep trench since he took over the platform in October 2022. The billionaire bought X during the historic $44 billion deal. However, since he bought the microblogging platform, Musk has been experiencing a financial slump. It all started with advertisers withdrawing from the platform after his takeover.
Elon Musk employed several policy changes and monetary subscriptions to bump the finances on X. However, the platform’s value has become half of what Musk bought it for. Apart from irreversible monetary damages, Musk is drowning in a pile of unpaid bills and fines at X, which have become severe as the Australian e-Safety Commission has fined X for not complying with terms and not responding to their blueprint for tackling child abuse content.
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Elon Musk’s X Has To Pay $386,000 In Fine
Many advertisers left X after the platform perpetuated hateful, anti-Semitic, and pornographic content. Now, due to this, Elon Musk has found himself in the middle of a hefty fine he has to pay the Australian e-Safety Commission.
In Australia, platforms must provide information about safe online practices. But Musk’s X failed to comply with it and did not inform the Commission about the anti-child abuse practices on the platform. Due to this, X has to pay $386,000 in fines.
AFP quoted Commissioner Julie Grant over the failure of X to answer questions about safe practices to avoid child abuse content on the platform. She said that despite X promising to tackle child sexual abuse as a priority, no action has been taken towards that.
Julie Grant said, “Twitter/X has stated publicly that tackling child sexual exploitation is the number one priority for the company, but it can’t just be empty talk… We need to see words backed up with tangible action.”
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It Is Not The First Time The Billionaire Got In Trouble In Australia
In February 2023, The Wall Street Journal reported that Elon Musk failed to pay $140 million outstanding at X. Due to this, he attracted nine lawsuits, each accusing him of non-payment of bills and dues. Musk’s attempt to convert X into a 2.0 version of Twitter has been facing bumps due to many legal hindrances.
In July 2023, an Australian management firm, Facilitate Corp., sued Elon Musk for non-payment of outstandings. The company alleged that they helped X set up sensors in the London and Dublin offices. It also assisted them in clearing the Sydney offices between 2022 and 2023.
The management firm filed a lawsuit at the US District Court for the Northern District of California. The company is aiming to procure the interests, compensatory damages, and legal costs. It alleges that the microblogging company owes them $61,300, $257,600, and $546,600, respectively.
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