Elon Musk Slams Apple’s App Store Fees for Being ‘10 Times Higher’

• Elon Musk has slammed Apple’s App Store fees, labeling them too high

• Apple currently charges 30% of revenue from all transactions carried out within its App Store

• Musk believes that this fee is “10 times higher than it should be”

Tesla CEO, Elon Musk is the latest person to slam Apple’s highly criticized practice of taking a 30% fee on all transactions carried out within its App Store.

The billionaire raised concerns about the high fees via Twitter on Tuesday. It comes after a complaint from European regulators that alleged that Apple “abused” its market power to prevent competition for Apple Pay from thriving.

Musk posted the first tweet that said:

“Apple’s store is like having a 30% tax on the internet”

He then followed it up with:

“Literally 10 times higher than it should be”

Apple’s App Store currently receives 30% of revenue on paid downloads and other purchases on the platform. The company earns more than $1 million annually through transaction fees through the store.

Read also: Elon Musk to Solve Twitter’s Spam Bot Problem With Dogecoin

Apple has failed to respond to both the criticism from Elon Musk and the European regulators.

According to Bloomberg, PayPal, a payment platform that was co-founded by Elon Musk, was instrumental in triggering the crackdown on Apple Pay by European regulators.

Meanwhile, U.S regulators are also reportedly set to take action against Apple and Google over their app store practices. Legislation is set to be issued that will prevent online marketplace operators from giving preferential treatment to their own apps.

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