Elon Musk’s Twitter takeover adds to his corporate political influence and lobbying power
Billionaire Elon Musk bought Twitter on Monday for $44 billion, ending a weeks-long saga in which the platform’s board initially worked to fend off Musk’s takeover bid with a “poison pill” shareholder rights plan before unanimously approving his offer.
See our media citations from outlets around the nation this week:
Millionaire candidates pour cash into Ohio, Pa. Senate races (The Associated Press) Sheila Krumholz, executive director of OpenSecrets, a research group that tracks campaign spending, said self-funding has become an increasingly appealing option for wealthy candidates because the lack of limits on personal giving allows them to “fight fire with fire” against deep-pocketed super PACs and dark money groups.
These members of Congress could personally benefit from Elon Musk's Twitter takeover (Business Insider) Members of Congress routinely introduce and vote on legislation that affects the tech industry broadly and Twitter specifically. Twitter, for its part, has spent more than $1 million lobbying the federal government during each of the past four years, according to federal records compiled by nonpartisan research group OpenSecrets.