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Elon Musk's X is in hot water with the EU for allegedly breaking new content rules—and the world's richest man risks multibillion-dollar fines even he might find prohibitive.

The European Union could decide within months to take action against X, including possible fines, as part of a probe into whether the social platform is breaching a landmark content moderation law, the Digital Services Act (DSA).

Nothing has yet been decided, but if the EU's executive does decide to strike then the amount Musk could be liable for might be considerably higher than expected.

That's because the EU could calculate fines not just on the basis of X's turnover—but on the revenues of Musk's entire business empire, including Tesla and SpaceX.

Already embroiled in legal woes in Brazil, the social network formerly known as Twitter was accused by the European Commission in July of misleading users with its blue checkmarks for certified accounts, insufficient advertising transparency and failing to give researchers access to the platform's data.

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