SAO PAULO (AP) — A Brazilian Supreme Court justice on Friday seized about $3 million from bank accounts belonging to social media platform X and satellite-based internet service provider Starlink, both companies controlled by tech billionaire Elon Musk.
The move by Justice Alexandre de Moraes was aimed at collecting funds that are equivalent to the amount that X owes to the country in fines. The bank accounts of the two companies have since been unfrozen.
Legal analysts have questioned de Moraes’ prior decision to freeze Starlink’s bank account to pay for cases related to X. While Musk owns both X and SpaceX, which operates Starlink, the two companies are separate entities.
3.3m / 182b = 0.0018% of Elon Musk’s wealth.
What percentage of your wealth do you lose if you get caught driving 5mph over the speed limit?
This shit needs to be proportional to both severity of the crime and total wealth.
Musk isn’t hurt by the amount of money he’s fined, but it annoys him terribly that he can’t control the situation and that his usual tools for getting his way are useless. It is a pebble in his boot that he can’t bluster, cajole, or bribe his way out of the problem like usual.
My most recent speeding ticket cost me 14% of my bank account and about a week later resulted in me putting groceries on a credit card.
I agree with you.