this post was submitted on 17 Mar 2024

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TikTok Rule (fedia.io)

submitted 8 months ago by BigFatNips@sh.itjust.works to c/196@lemmy.blahaj.zone

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[–] OldWoodFrame@lemm.ee 5 points 8 months ago (1 children)

If that's Rupert Murdoch, he had to get US citizenship to be allowed to own Fox.

[–] CampRefugeeCounselor@reddthat.com 1 points 8 months ago (1 children)

Quick Google search: "Generally, there are no restrictions on foreign ownership of a company formed in the United States. The procedure for a foreign citizen to form a company in the US is the same as for a US resident."

[–] OldWoodFrame@lemm.ee 9 points 8 months ago (1 children)

Broadcast news is one of the exceptions:

Under federal regulations an alien may not own more than 20% of a broadcast license.

https://www.latimes.com/archives/la-xpm-1985-09-04-mn-23112-story.html

[–] jkrtn@lemmy.ml 1 points 8 months ago

The missing link is to recognize that billionaires are citizens only technically. They have no interest in the well-being of their nation (or even their planet), nor are they subject to any of its laws.