EU regulators would not only factor in X's revenue when tallying a financial penalty, but also the revenue of Musk's other companies like SpaceX, Neuralink, xAI and Boring Company. According to Bloomberg 's report, Tesla's revenue would not be factored into the equation as it is a publicly traded company and not entirely controlled by Musk.

The move comes after California Coastal Commission members raised concerns about Musk’s political rhetoric at a hearing last week.

The CEO of Phantom Space said he agrees with Elon Musk that the California Coastline Commission was "blatantly political."