Musk’s Twitter Acquisition Should Be Investigated By CFIUS and FCC
Washington, D.C. — Following the completion of Elon Musk’s $44 billion buyout of Twitter, the American Economic Liberties Project released the following statement.
“Elon Musk’s potential dependencies on the Chinese government are concerning, and the Committee on Foreign Investment in the U.S. should investigate his takeover of Twitter, as should the Federal Communication Commission, considering Musk’s control of Starlink’s satellite internet service,” said Sarah Miller, Executive Director of the American Economic Liberties Project. “That said, this acquisition does not raise antitrust concerns and the Federal Trade Commission and Department of Justice Antitrust Division have acted appropriately in allowing it to proceed.”
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The American Economic Liberties Project works to ensure America’s system of commerce is structured to advance, rather than undermine, economic liberty, fair commerce, and a secure, inclusive democracy. Economic Liberties believes true economic liberty means entrepreneurs and businesses large and small succeed on the merits of their ideas and hard work; commerce empowers consumers, workers, farmers, and engineers instead of subjecting them to discrimination and abuse from financiers and monopolists; foreign trade arrangements support domestic security and democracy; and wealth is broadly distributed to support equitable political power.