U.S. officials from the Treasury Department are currently investigating whether they have the legal authority to approve Elon Musk’s purchase of Twitter. This could be due to Musk’s close relationships with foreign investors and governments. These entities include those that are hostile toward the United States.
According to the Washington Post officials are concerned that Musk could have access to confidential information about Twitter’s finances if he buys the company.
According to the report, the FBI was looking into counterintelligence risks that might be created by the acquisition in the spring. It wasn’t known where the Bureau was at this time.
Reports claim that the White House was considering submitting Musk’s business transactions for national security reviews because of his power. The White House denied these claims.
The Washington Post reported that the deal’s investors include a “Saudi prince’s holding company” as well as a “subsidiary of Qatari sovereign wealth fund”. Binance, a Chinese cryptocurrency trading platform, is another potential investor. As Tesla CEO, Musk has strong ties with communist China.
According to Treasury staff, the Committee on Foreign Investment in the United States is investigating whether Musk’s purchase could lead to a national security investigation. CFIUS was able to review “not only foreign ownership but also minority stakes within critical areas including sensitive personal data held by businesses” in a 2018 legislative update. ”
Andrew Grotto, a former senior cybersecurity director, was most concerned about CFIUS under the Trump and Obama administrations. He said that hostile entities could possibly gather sensitive data about Americans and pose a serious threat to national security.
CFIUS believes that it has the authority to protect Americans’ personal data from being misused by foreign countries. “I consider that a major avenue of investigation for CFIUS. ”
Senator Chris Murphy (D.CT), asked CFIUS to investigate the national security implications of Saudi Arabia buying Twitter.
Murphy stated, “We should be concerned that Saudi Arabia has a clear want to repress political expression and impact U.S. politics” Murphy stated. The CFIUS should examine the situation because it is clearly a national security concern.