Murphy Wants Probe Into Saudi Stake In Twitter Deal

October 31, 2022 Business, Social Media

Sen. Chris Murphy (D-Conn.) on Monday called for a congressional investigation into the national security implications of a company partially owned by Saudi Arabia maintaining its stake in Twitter following Elon Musk’s $44 billion acquisition of the platform.

Prince Alwaleed bin Talal, founder and chairman of the Kingdom Holding Company, said the company would continue its ownership of Twitter shares valued at $1.89 billion after Musk completed the deal, making it Twitter’s second largest investor.

Saudi Arabia’s sovereign wealth fund, which is chaired by crown prince Mohammed Bin Salman (MBS), owns 16.9% of the Kingdom Holding Company.

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We should be concerned that the Saudis, who have a clear interest in repressing political speech and impacting U.S. politics, are now the second-largest owner of a major social media platform.

There is a clear national security issue at stake and CFIUS should do a review.

— Chris Murphy (@ChrisMurphyCT) October 31, 2022

If this deal goes through, two of the most important U.S. social media platforms will be owned, in whole or in part, by China (TikTok) and Saudi Arabia (Twitter).

This is a dangerous trend, and we don’t have to accept it.

— Chris Murphy (@ChrisMurphyCT) October 31, 2022