Once again the Biden administration is trying to figure out if they have the ‘authority’ to investigate Musk’s purchase of Twitter.
This investigation would be different from the investigation we reported on last month.
Here’s more via the Washington Post:
Large foreign investors would have access to confidential information about Twitter’s finances — and potentially its users — under the terms of Elon Musk’s deal to acquire the social media site, people familiar with the matter told The Washington Post.
That revelation comes as Treasury Department officials begin looking into whether they have the legal authority to start an investigation into the purchase because of Musk’s ties to foreign governments and investors, people familiar with those discussions said.
It was not immediately clear whether Treasury officials were aware of the terms granting information rights to large investors. The exploration of whether a review was warranted is fairly routine, and such preliminary examinations often do not end in a full investigation.
White House officials also previously discussed the possibility of a national security review of the acquisition, according to another person. Additionally, officials at the FBI looked into the potential counterintelligence risks posed by the deal this past spring, according to two people familiar with the inquiry — though it is not clear whether the matter has been studied by senior officials at the bureau or if those discussions are still active. All the people spoke on the condition of anonymity to discuss matters they were not authorized to disclose publicly.
A Saudi prince’s holding company and a subsidiary of the Qatari sovereign wealth fund are among the investors backing Musk’s Twitter purchase, as is Binance, a cryptocurrency exchange that was founded in China but has since moved its operations elsewhere. Tesla, where Musk serves as chief executive, has extensive ties to China, as well.
Musk and his attorney, Alex Spiro, did not immediately respond to a request for comment.
The U.S. government’s preliminary attempts to scrutinize the Twitter deal comes as the billionaire introduces new changes to the structure of one the world’s most powerful communication platforms.
Treasury staff at the Committee on Foreign Investment in the United States (CFIUS) have not yet determined whether Musk’s purchase of the social media platform could trigger a national security review, according to one person familiar with the matter.
I don’t trust this administration at this point with anything like this. We’ve already seen how the DOJ has been heavily politicized under Biden and there’s no reason to think the Treasury is any different.
I don’t exactly know what could come of this ‘investigation’, but I have a feeling it’s not good. And if the results are negative for Musk, it would probably end up in court.
Hopefully it never happens. I’d rather the feds just stay out of it at this point. The deal is done and, just like with his other companies, Musk will obey US law with Twitter as well.