Report says Biden administration considering probing Elon Musk’s Twitter purchase over national security concerns:- The Biden administration is reportedly considering an official review of Elon Musk’s Twitter acquisition.
According to Bloomberg, the White House had national security concerns regarding its foreign investors.
Bloomberg reported that the Biden administration is considering Elon Musk’s Twitter acquisition for official review over national security concerns.
That’s because they feared foreign nationals who helped finance the deal could access Twitter user data, sparking concern in the intelligence community, people familiar with the matter told Bloomberg.
Changpeng Zhao, CEO of Binance; Saudi Prince Alwaleed bin Talal; and Qatar’s Sovereign Wealth Fund are all investors in Musk’s Twitter.
Sovereign wealth funds contributed $375 million to Musk’s $44 billion acquisition, SEC filings show. Binance invested $500 million in the deal, while Bin Talal committed to buy about 35 million shares worth $1.9 billion, according to an SEC filing.
Bloomberg reported that some in the Biden administration considered whether Musk’s deal should be brought before the Committee on Foreign Investment in the United States, which could block business transactions over security concerns.
But the outlet said the Treasury rejected it on legal grounds, citing people familiar with the matter.
Insider reported last December that Musk was pictured with the CEO of the Qatar Investment Authority just hours before tweeting a poll on whether he should step down as Twitter boss.
The timing of Musk’s vote prompted the BBC to question whether Twitter investors in the Middle East would have called a meeting to question the company’s management.
The QIA boss later told Bloomberg: “We have confidence in his leadership to turn the company around.”
Top Biden officials also fear that Musk is near untouchable thanks to his vast business empire, according to Bloomberg. For example, they have influence over the war in Ukraine, thanks to the country’s use of Starlink for communications, and have raised prices.
In response to Insider’s request for comment on the government’s concerns, Twitter responded with a poop emoji — an auto-reply Musk announced on Sunday.
The White House did not immediately respond to Insider’s request for comment, which was sent outside US business hours.
“The Biden administration considered probing Elon Musk’s Twitter purchase over national security concerns, report says”
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