Elon Musk’s Twitter acquisition is a never-ending tale of concern, and in a fresh turn, a Bloomberg report states that Musk’s $44 billion acquisition of Twitter is still under US federal investigation.
According to the Bloomberg report, the US government is still looking for details on secret agreements Elon Musk struck with foreign investors and whether or not such agreements provide those investors access to users’ personal data. The report also mentioned that whether or not these confidential agreements permit accessibility to user data raises national security concerns.
This information was made public just days after US Treasury Secretary Janet Yellen stated in an interview with CBS News that she finds “no basis” for looking into the billionaire’s takeover of Twitter. “We have really no basis – to the best of my knowledge – to examine his finances of his company. I’m not aware of concerns that would cause us to [investigate],” Yellen stated.
Under Elon Musk’s management, the world’s largest social media company has seen 25 days of chaos.
At Twitter, resignations, layoffs, and ultimatums have become routine. Following Musk’s violent firing spree, in which he let go 50% of the company’s staff, 1,200 people resigned. Musk eventually turned to send an SOS to the surviving staff in an effort to save what was left, “Anyone who writes software, please report to the 10th floor at 2 pm today,” he wrote in an email.
Elon Musk’s efforts to improve user authentication with a contentious subscription service also resulted in a mess: a flood of false accounts and practical jokes forced big advertisers to abandon the site.