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Foreign Influence in Elections

Does federal law prohibit foreigners from owning shares in U.S. corporations that influence U.S. elections?

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Federal law prohibits foreigners from “making donations to candidates running for federal, state, or local offices,” but it doesn’t bar them from owning shares in U.S. media corporations that influence U.S. elections. For example, Mexican multi-billionaire Carlos Slim became the largest single shareholder of the New York Times Company in 2015 and later loaned the Times $250 million when the company “looked to be in peril.” Hence, this foreigner played a major role in a U.S. corporation that regularly influences U.S. elections and has published dozens of false and misleading claims that spur violent unrest and civic dysfunction. Nor does federal law bar foreigners from “making contributions in connection with state or local ballot initiatives, referendums, or recall elections.” Currently, three Republicans have sponsored a bill that would prohibit such activities.



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