Why world's fifth richest is suing world's top richest
What's the story
Bernard Arnault, the world's fifth-richest person as per the Bloomberg Billionaires Index, has sued Elon Musk's social media platform, X.
The lawsuit arises from accusations that X republished content from multiple press outlets owned by Arnault without adequate compensation.
This includes leading French newspapers Les Echos and Le Parisien, according to Fortune.
The case is likely to be heard in May 2025.
Legal implications
French law and media rights at the center of dispute
The lawsuit is based on French law, which is stricter on social media companies than the US.
Under the law, platforms are mandated to pay for content they republish from the media.
Apart from Arnault's newspapers, other leading French publications such as Le Monde, Le Figaro, and news agency Agence France-Presse have also joined the legal action against Musk's company.
Negotiation stalemate
Musk's refusal to negotiate escalates tension
In the statement to The Telegraph, the media outlets involved in the lawsuit have claimed that Musk has neither agreed to pay nor shown willingness to negotiate on the issue.
They argue that the revenue from these rights would significantly contribute to media diversity, independence, and quality.
These factors are deemed crucial for upholding freedom of expression and information rights in a democratic society.