Biden says Elon Musk’s foreign investors in Twitter are “worth a look”

President Biden said on Wednesday that the role of foreign investors in funding Elon Musk’s $44 billion Twitter purchase is “worth watching.”

Mr Biden made the remarks at a press conference in response to a question whether Musk’s actions – helping to win the support of Qatar Holding, an investment firm owned by Saudi Arabia’s Prince Alwaleed bin Talal and the Arab country’s sovereign wealth fund – For. Fund your deal to buy Twitter – US may post threat to national security.

“I think Elon Musk’s cooperation and/or technical ties with other countries deserve attention,” Mr. Biden said. “Whether he’s doing anything inappropriate or not, I’m not saying that, but it’s worth a look.”

Musk financed most of the purchase through his own fortune, but $7.1 billion was provided by equity investors, including fellow billionaire Larry Ellison as well as foreign sources, such as Prince Alwaleed and Qatar Holding, according to Reuters. Were.

The importance of Twitter “as a forum for political discussion in America” ​​raises implications for national security, experts at the Brookings Institution, a liberal think tank, wrote on November 4. In his view, the Twitter deal should be investigated by the Committee on Foreign Investment in the United States, or CFIUS, an agency that reviews the national security implications of foreign investment in American companies.

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“Given the evolving trends in CFIUS decisions in other cases, President Biden would have strong grounds to block Musk’s Twitter acquisition or to force him to sell his equities to a small number of minority foreign investors who would be safe for national security.” Will not pose a threat,” he said. ,

According to Brookings, other investors in Musk’s Twitter purchase have ties to China and the United Arab Emirates.

Mr Biden’s comments come after a turbulent start to Musk’s ownership of Twitter, which included a Advertiser Rebellion on concerns about the social media service’s monitoring of content under his leadership and his decision fire 3,700 employees, or about half its workforce. Meanwhile, Musk’s luck has run out. $100 billion fell Tesla’s share price has plummeted this year amid Twitter turmoil.

“The Twitter Circus show has been an absolute debacle from all angles since Musk bought the platform for the whole world to see,” Wedbush Securities analyst Dan Ives said in a research note Wednesday. “When does this end? Is the focus Tesla or Twitter? Is this Twitter train wreck situation hurting/spoiling Musk and therefore Tesla’s global brand?”

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