I trust them marginally more, personally. But more for their sensitivity to privacy law over some of the underhanded by-the-numbers approaches that Google uses, banking on human laziness to miss a checkbox or not sync'd across browser, mobile, and core account profiles.

Microsoft is very much in the business of making other businesses personally trust them, and that seems to extend to their privacy notices and settings.

Then again, they might just hide it better than google. Anyone with a source can chip in.

Source: MSP Escalation Tech who has been asked specifically by businesses whether G-Workspace or MS365 is more secure, from a privacy standpoint. I have not looked into free outlook accounts per-se, but the backend is the same and it's trivial to set up a 365 business tenant with all the bells and whistles if you want to pay a license fee.