Brazil blocks Starlink bank accounts amid govt dispute with Elon Musk’s X

Brazil Supreme Court has blocked bank accounts of Elon Musk's Starlink services amid an ongoing dispute with social media platform X.

Livemint
Updated30 Aug 2024, 06:26 AM IST
Elon Musk
Elon Musk(REUTERS)

Brazil's Supreme Court has blocked bank accounts of Elon Musk's Starlink services amid an ongoing dispute with social media platform X. The move came after Brazil's top court, which is spearheading efforts to combat fake news and hate speech on social media in the country, blocked Starlink internet firm's bank accounts on Thursday.

Calling the Brazilian Supreme Court Justice Alexandre de Moraes a “dictator”, Elon Musk raised concerns over the “illegal action” by the Brazil SC.

Also Read | European censorship, Elon Musk and the Telegram arrest

SpaceX and X are two completely different companies with different shareholders. I own about 40% of SpaceX, so this absolutely illegal action by the dictator @alexandre improperly punishes other shareholders and the people of Brazil,” wrote Elon Musk on X.

The internet company confirmed the top court's action against its bank accounts and said that it had received an order from the judge that prevented the company from conducting financial transactions in Brazil.

“This order is based on an unfounded determination that Starlink should be responsible for the fines levied — unconstitutionally — against X,” the company said, adding it intends “to address the matter legally.”

Also Read | 2-year-old from Delhi joins LinkedIn to ‘network and get into good pre-school’

About Starlink

SpaceX's brainchild, Starlink, is the satellite internet service that provides internet services to remote locations worldwide. SpaceX is one of the most successful ventures of Elon Musk, who also leads EV giant Tesla as its CEO and runs social media platform X, formerly Twitter.

Also Read | Brazil sees Elon Musk’s Starlink as a political threat

What is the dispute between Brazil and Elon Musk's X

The decision to freeze Starlink's accounts came amid the country's ongoing dispute with X over undue pay. The Brazil government and Elon Musk's X are at loggerheads after the social media giant was ordered to pay due to its failure to turn over some documents. Local newspaper Folha reported that the fines total at least 20 million reais ($3.6 million), and Reuters added that it could not confirm the amount.

The Supreme Court said that the time allowed for Musk's popular social media platform to name its legal representative for Brazil would expire on Thursday evening. Failing to do so, would lead to the company's suspension in the country.

 

Catch all the Business News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

MoreLess
First Published:30 Aug 2024, 06:26 AM IST
Business NewsNewsWorldBrazil blocks Starlink bank accounts amid govt dispute with Elon Musk’s X

Get Instant Loan up to ₹10 Lakh!

  • Employment Type

    Most Active Stocks

    NTPC share price

    392.45
    03:59 PM | 11 NOV 2024
    -5.25 (-1.32%)

    Tata Motors share price

    804.75
    03:59 PM | 11 NOV 2024
    -0.95 (-0.12%)

    ICICI Bank share price

    1,269.15
    03:58 PM | 11 NOV 2024
    9.8 (0.78%)

    Tata Steel share price

    144.95
    03:42 PM | 11 NOV 2024
    -2.6 (-1.76%)
    More Active Stocks

    Market Snapshot

    • Top Gainers
    • Top Losers
    • 52 Week High

    Wipro share price

    572.25
    03:59 PM | 11 NOV 2024
    3.4 (0.6%)

    Federal Bank share price

    207.75
    03:51 PM | 11 NOV 2024
    1 (0.48%)

    Indian Hotels Company share price

    729.45
    03:59 PM | 11 NOV 2024
    -3.6 (-0.49%)

    Page Industries share price

    47,349.95
    03:29 PM | 11 NOV 2024
    -637.85 (-1.33%)
    More from 52 Week High

    Asian Paints share price

    2,542.65
    03:44 PM | 11 NOV 2024
    -226.6 (-8.18%)

    CE Info Systems share price

    1,890.15
    03:53 PM | 11 NOV 2024
    -165.65 (-8.06%)

    UPL share price

    515.10
    03:47 PM | 11 NOV 2024
    -42.5 (-7.62%)

    Aarti Industries share price

    439.55
    03:58 PM | 11 NOV 2024
    -35.2 (-7.41%)
    More from Top Losers

    Biocon share price

    348.85
    03:58 PM | 11 NOV 2024
    27.6 (8.59%)

    Borosil Renewables share price

    503.10
    03:40 PM | 11 NOV 2024
    37.5 (8.05%)

    ITI share price

    327.40
    03:59 PM | 11 NOV 2024
    23.8 (7.84%)

    Power Finance Corp share price

    481.60
    03:58 PM | 11 NOV 2024
    32.15 (7.15%)
    More from Top Gainers

    Recommended For You

      More Recommendations

      Gold Prices

      • 24K
      • 22K
      Bangalore
      78,775.00-600.00
      Chennai
      78,781.00-600.00
      Delhi
      78,933.00-600.00
      Kolkata
      78,785.00-600.00

      Fuel Price

      • Petrol
      • Diesel
      Bangalore
      102.92/L0.00
      Chennai
      100.80/L0.00
      Kolkata
      104.95/L0.00
      New Delhi
      94.77/L0.00

      Popular in News

        HomeMarketsPremiumInstant LoanMint Shorts