The Biden administration could subject some of Elon Musk’s ventures to national security reviews, according to Bloomberg, citing people familiar with the matter.
Sources say Biden administration officials are beginning to discuss such reviews. They would cover the SpaceX Starlink satellite network and Musk’s deal with Twitter.
Twitter’s shares reacted to the news, dropping as much as 8 percent Friday.
Biden officials appear to be concerned that Musk threatened to cut off the Starlink satellite service to Ukraine due to the expense and his plan to buy Twitter with foreign investors.
According to a report by The Washington Post, Musk plans to lay off 75 percent of workers after he takes over Twitter. The paper also cites anonymous sources familiar with the matter.