SAFETY CONCERNS

Musk’s Foreign Ties May Prompt Treasury Dept Probe Into Twitter Deal

Terms in the purchase allow foreign investors to access sensitive financial information, bringing national security concerns to the table, The Washington Post reports.

The U.S. Treasury Department is looking into whether it has the legal authority to investigate Elon Musk’s $44 billion takeover of Twitter, The Washington Post reported Wednesday. A handful of lawmakers previously raised the alarm about Musk’s foreign ties, including Sen. Chris Murphy (D-CT), a member of the Foreign Relations Subcommittee, who wrote to the Committee on Foreign Investment urging it to review the purchase because of Musk’s connection with investors from Saudi Arabia and Qatar. In the terms of Musk takeover, large foreign investors have access to the platform’s sensitive financial data, people familiar with the deal told The Washington Post. Saudi Prince Alwaleed bin Talal’s Kingdom Holding Company is Twitter’s second biggest shareholder, while Qatar’s sovereign wealth fund Qatar Investment Authority is the biggest investor. The Post reports that the Treasury Department may not be aware of these specific terms but the department has since started looking into the matter.