Italy's Guardia di Finanza fiscal police has opened a tax probe into Elon Musk’s social network X in a move that could have a broader impact on the ongoing regulatory battle brewing between the European Union and U.

While the value-added tax claim is a trifling sum for X, the case is significant as it hinges on the way social networks provide access to their services.

Italy is claiming 12.5 million euros ($13 million) from Elon Musk's social network X following a tax probe running parallel to one into Meta, four sources with direct knowledge of the matter said, the latest move in a potential test case for the tech sector in Europe.

Meta, AI entrepreneurs, academics, and other charities and activists are criticizing the startup's plan to shed its ties to its non-profit parent.

The company’s executives could now earn a bonus representing 200% of their base salary, up from 75%, according to the filing.

DeepSeek's rise has not only erased the wealth of tech leaders but has also reshaped the competitive dynamics of the AI industry.

X has previously convinced a federal appeals court that forcing social media companies to disclose their content moderation and other policies was unconstitutional.

The worlds wealthiest individuals, including Elon Musk, Jeff Bezos, and Mark Zuckerberg, face an uphill battle to recover their losses.

Elon Musk was responding to a report claiming that Meta was in talks regarding a new data centre for its AI technology offerings.

Elon Musk lost $52 billion in net worth since the year began, but he’s still the richest person in the world by a long shot.

Last spring and summer, The Fulcrum published a 30-part series on Project 2025. Now that Donald Trump's second term The Fulcrum has started Part 2 of the series has commenced. Elon Musk's Department of Government Efficiency (DOGE) claims to be cutting fraud and waste from government bureaucracy,

It's the second tech company to agree to a payout after the Jan. 6 attack on the Capitol prompted Trump to be kicked off numerous social media platforms.