Elon Musk is now under censure by the Biden administration via a national security probe directed at his enterprises, despite his beneficial activities. The White House is questioning SpaceX, Starlink, and Twitter, which are major thrusts of the billionaire whose efforts benefit the US.
US Government To Probe Elon Musk's Deals
When Musk threatened to cut the use of his satellite service, which cost him $80 million, the Biden administration viewed it as friendliness to Russian President Vladimir Putin.
The tweets of the SpaceX billionaire threatened the government, which had peace proposals that were good for Russia, and the move to buy Twitter with the help of foreign investors.
Though the talks are underway, for now, the government and intelligence agencies are alarmed that the actions of the Tesla founder as contrary to the Biden administration, and measures to curb the billionaire are sought.
One path Washington wants to take is to use the law on foreign investment in the US to stalk the self-made billionaire Elon Musk, noted Bloomberg.
An inter-agency panel called CFIUS that looks into foreign investors' purchase of US businesses would assess the matter. The sale of Twitter for US $44 billion to foreign investors could prompt a CFIUS review with a national security probe. Part of the buying platform includes Saudi Arabia, Binance Holdings, and Qatar's sovereign wealth fund.
CFIUS To Conduct Review
The panel meets behind closed doors with no notification if reviews are done and can even probe finished deals.
According to a US Treasury Department spokesperson, the body does what it wants without notifying the subject of its probes, citing the Money Web.
Recently the world's richest person posted on Twitter how to end the Ukraine conflict and made it clear that the satellite service, free of charge, will be shut down. Musk's public comments have frustrated US and EU officials but drew applause from adversaries.
Musk Retains Satellite Link Services
After much pressure from the Biden administration, SpaceX relented and will continue servicing the Ukrainians with free internet, but there is no assurance it will last, as it will continue to incur the cost of $20 million a month, reported SCMP.
Sources said Musk's satellites are the only way to communicate in Ukraine when telecoms go down. The chief executive officer of the Tesla electric car brand is no stranger to Washington power plays and top contracts.
After corporate lobbying in Congress, he entered the military and intelligence satellite operations industry, petitioning the United States Air Force for such a capability to compete with such a long-standing partnership between defense behemoths Boeing and Lockheed Martin.
Through 2019, the Pentagon said it would evaluate Musk's federal security clearance after he smoked cannabis on a podcast.
However, the outcomes of that inquiry are uncertain. A SpaceX official just at the moment, who asked not to be named, said that the review never had an influence on the firm.
Musk's Starlink is crucial to NASA for its activities and the Pentagon, including the US Agency for International Development or USAID, when it paid a bit for satellite service.
Elon Musk has proven to be a willing card that the Biden administration can't afford, so the national security probe is their means to reign him in.
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