Biden Administration officials are discussing whether the United States should include some of Elon Musk’s projects under national review, including a deal for Twitter Inc and SpaceX’s Starlink satellite network, Bloomberg News reports. news on Thursday, citing people familiar with the matter.
The SpaceX Chief recently brought Twitter announced proposals to end Russia’s war in Ukraine, and also said SpaceX could not fund indefinitely Starlink internet service in Ukraine. He later declined and said he would continue to bear the costs of the service.
Discussions to review Musk’s projects are in the early stages, sources told Bloomberg, adding that officials in the US government are weighing what tools, if any, will give allow the federal government to review Musk’s projects.
One possibility is to pass legislation governing the Commission on Foreign Investment in the United States (CFIUS), a division of the US Treasury Department, to review Musk’s business ventures, the report added.
Bloomberg says one factor in Musk’s $44 billion Twitter deal (3,64,500 crore) that could trigger the CFIUS review is the presence of foreign investors in Musk’s consortium.
The team includes Saudi investor Prince Alwaleed bin Talal and Binance, which was founded in Shanghai.
A spokesperson for the US Treasury Department said CFIUS does not comment publicly on transactions it may or may not be reviewing.
Twitter and SpaceX did not immediately respond to Reuters’ request for comment.
Musk has said he will walk away from a deal to buy Twitter in May alleging the company underestimated the number of bot accounts and spam on the social media platform, which has started a series of lawsuits between both sides.
Earlier this month, Musk reversed course and said he would proceed with the deal on its original terms.
© Thomson Reuters 2022