White House weighs on national security review of Elon Musk venture

According to a report, the White House is considering whether it will be subject to a national security review, including Elon Musk’s offer to acquire Twitter and satellite internet company Starlink, Bloomberg reported. Posting a series of tweets including the CEO’s plans to acquire Twitter in a deal partially funded by non-US investors, the recent threat to unplug the Starlink service to Ukraine, and a proposal for a friendly Ukrainian conflict The Putin regime reports that US officials are concerned about Musk’s plans to acquire Twitter with financial backing from non-US investors, including: Qatar Holding, a member of the Qatar Investment Authority, Binance, the world’s largest cryptocurrency exchange with a holding company registered in the Cayman Islands. At the time, the financial support of Musk’s co-investors was approximately $7 billion. Musk is working to complete its proposed $44 billion takeover of Twitter ahead of a court-set deadline on Oct. 28, after which it faces the threat of legal action. Bloomberg wrote that one way the Biden administration could investigate Musk’s ventures is with the US Commission on Foreign Investment (CFIUS), which can review business deals and recommend: “It would be hysterical if the government stopped Elon from paying too much on Twitter,” Musk said in a tweet on Friday citing a Bloomberg report. Musk responded with a smiley emoji and 100 emojis indicating support for the post. It would be hysterical if the government stopped Elon from paying too much on Twitter ๐Ÿ˜‚โ€” Nik “The Carny” Lentz (@NikLentz) October 21, 2022 Starlink, part of Musk’s Space X rocket business, will be scrutinized by the commission. will be On Saturday, Elon Musk announced that SpaceX would continue to pay for Starlink’s internet service in Ukraine. He said he was losing about $20 million a month. Operating through 3,000 small satellites in low Earth orbit, Starlink has become a key communications link for the Ukrainian army in the battle to repel the Russian invasion. According to Musk, there are currently around 25,000 Starlink ground terminals in Ukraine. Musk warned the government this month when he published a Twitter poll about the country’s future that included options such as formalizing Russia’s annexation of Crimea from Kyiv. Ukrainian President Volodymyr Zelensky tweeted: โ€œWhich @elonmusk do you like more?โ€ “Musk supports Ukraine and Musk supports Russia,” said the US Treasury Department. In accordance with law and practice, CFIUS does not publicly comment on transactions that are under review or may not be reviewed.โ€ Register for business today. Morning Privacy Notice: Our newsletter may contain information about charitable organizations, online advertising, and content funded by external parties. Please see our Privacy Policy for more details. We use Google reCaptcha to protect our website and are subject to the Google Privacy Policy and Terms of Service. Howard Fischer, a partner at New York law firm Moses & Singer, said he didn’t expect the CFIUS investigation to hamper Twitter transactions. He will either stop trading or significantly halt the transaction through the review,โ€ he said. โ€œMusk would argue that foreign investors are penalized for their speeches, not the absence of foreign investors in the transaction, especially given the relatively small volume of foreign investment reported.โ€ Elon Musk was contacted for comment.
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