Brazil supreme court unfreezes assets of Elon Musk’s Starlink, X after taking fines

Brazil supreme court unfreezes assets of Elon Musk’s Starlink, X after taking fines


Elon Musk, chief executive officer of Tesla Inc., at the US Capitol in Washington, DC, US, on Wednesday, July 24, 2024. 

Samuel Corum | Bloomberg | Getty Images

Brazil’s supreme court announced Friday that it ordered banks to transfer funds from Starlink and X accounts to pay fines the court levied against Elon Musk’s social network.

The court’s top justice, Alexandre de Moraes, and a panel of five other justices, found that X had repeatedly violated Brazilian law when it refused to appoint a legal representative in the country, and when it refused to remove content or profiles from its platform that the court determined to be harmful towards democratic institutions in Brazil.

The court had nearly 18.4 million Brazilian reals, or approximately $3.3 million, transferred out of the accounts. Musk acquired X, then known as Twitter, in 2022. Starlink is the satellite internet service run by SpaceX.

Following the transfers, the court ordered that the frozen bank accounts and assets of X and Starlink be released, saying there was no longer any need to keep them.

The court suspended X at the end of August, and the suspension remains in place. 

Musk and his businesses have said they view the actions of de Moraes as “illegal,” and his court’s orders as having been issued without due process. X and SpaceX did not immediately respond to requests for comment on Friday.

Brazilian news agency UOL reported earlier this month that some of the accounts de Moraes ordered Musk to suspend at X belong to users who allegedly threatened federal police officers involved in a probe of former right-wing Brazilian President Jair Bolsonaro.

Bolsonaro has been accused of instigating Brazil’s Jan. 8 riots and of attempting to stage a coup there.

Musk is a proponent of Bolsonaro, in part because the former Brazilian president authorized his business Starlink to operate in the country.

Musk has been ramping up insults and calls to impeach de Moraes since April. On Sept. 5, his long-time collaborator at the helm of SpaceX, COO Gwynne Shotwell, also took shots at the Brazil supreme court online.

She wrote, “@Alexandre, please stop harassing Starlink and let us keep serving the people of Brazil.”

Backers of de Moraes and the STF have seen the orders against X Corp. as an assertion of Brazilian sovereignty.

WATCH: New data shows Musk’s Twitter takeover is worst deal for banks since 2008 financial crisis

New data shows Musk's Twitter takeover is worst deal for banks since 2008 financial crisis



Source

Nike CEO John Donahoe is out, replaced by company veteran Elliott Hill
World

Nike CEO John Donahoe is out, replaced by company veteran Elliott Hill

John Donahoe, CEO of Nike, attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, U.S., July 10, 2024. Brendan Mcdermid | Reuters Nike on Thursday announced that its CEO John Donahoe is stepping down and company veteran Elliott Hill is coming out of […]

Read More
Largest port on U.S. East Coast, New York/New Jersey, begins prepping for what could be first union strike since 1977
World

Largest port on U.S. East Coast, New York/New Jersey, begins prepping for what could be first union strike since 1977

Port of New York/New Jersey executives tell CNBC they have begun preparations for a potential complete work stoppage by the International Longshoreman’s Association, the largest union in North America. The ILA represents over 85,000 longshoremen and a strike would shut down five of the 10 busiest ports in North America, and a total of 36 […]

Read More
Elon Musk’s X and Starlink face nearly  million in daily fines for alleged ban evasion in Brazil
World

Elon Musk’s X and Starlink face nearly $1 million in daily fines for alleged ban evasion in Brazil

Combinations showing Entrepreneur Elon Musk (L) and Brazil Supreme Court Justice Alexandre de Moraes (R) Reuters (L) | Getty Images (R) Elon Musk’s X faces steep daily fines in Brazil for allegedly evading a ban on the service there, according to a statement from the country’s supreme court on Thursday. The fines, imposed by Brazil’s […]

Read More