Musk’s Twitter deal might face nationwide safety probe into overseas buyers

A photoshopped image of Elon Musk emerging from an enormous pile of money.

Enlarge (credit score: Aurich Lawson / Duncan Hull / Getty)

Elon Musk’s $44 billion buy of Twitter might face a probe into potential nationwide safety dangers posed by Musk’s overseas buyers, in keeping with a Reuters report on Friday. The overseas funding might invite “the sort of regulatory scrutiny over US nationwide safety that social media peer TikTok confronted,” the report mentioned.

Musk’s buyers embrace Qatar’s sovereign wealth fund and Saudi Arabia’s Prince Al Waleed bin Talal al Saud. The Saudi Kingdom Holding Firm already owns 5.2 % of Twitter inventory and plans to roll that $1.9 billion stake into Musk’s privatized Twitter. The Qatar funding is for $375 million.

Musk additionally has a $500 million funding from Binance, a serious cryptocurrency change that has confronted its personal authorities scrutiny. Binance was based in China in 2017 however shortly left the nation when China’s authorities restricted cryptocurrency buying and selling; it now operates with out an official headquarters. Binance’s founder is Changpeng Zhao, who was born in China however reportedly moved to Canada along with his household when he was 12 years previous.

Learn 15 remaining paragraphs | Feedback

Leave a Reply

Your email address will not be published. Required fields are marked *