The world’s richest man, Elon Musk, is set to become the new owner of Twitter after the company’s board agreed to sell the influential social media platform for $44 billion. The deal is expected to close later this year pending regulatory approval. The watchdog group Media Matters criticized Musk’s takeover of Twitter, saying it will be a “victory for disinformation and the people who peddle it.” At the White House, Press Secretary Jen Psaki said President Biden was “concerned” about Musk’s takeover.

Press Secretary Jen Psaki: “No matter who owns or runs Twitter, the president has long been concerned about the power of large social media platforms, what they — the power they have over our everyday lives, has long argued that tech platforms must be held accountable for the harms they cause. He has been a strong supporter of fundamental reforms to achieve that goal, including reforms to Section 230, enacting antitrust reforms, requiring more transparency and more.”