Will Elon Musk buy TikTok from China? Here's what the company says
TikTok has firmly denied reports claiming that Chinese officials are considering selling its US operations to Elon Musk, calling the rumors "pure fiction."
TikTok has firmly rejected reports suggesting that Chinese officials are considering selling the app's US operations to billionaire Elon Musk, labeling the claims as "pure fiction." This statement follows a Bloomberg News report, which claimed that Beijing officials were exploring Musk as a potential buyer for TikTok's US business, should the company be unable to prevent an impending ban. The sources cited by Bloomberg suggested that these talks were part of broader contingency planning by Chinese officials in anticipation of Donald Trump's potential return to office.
One scenario reportedly under consideration involves Musk’s social media platform X (formerly Twitter) taking control of TikTok's US operations. The plan would potentially merge the two platforms to enhance advertising revenue. TikTok currently boasts over 170 million users in the United States.
However, in response to the report, a TikTok spokesperson firmly dismissed the claims, telling Variety that the company "can't be expected to comment on pure fiction."
The discussions occur amid TikTok's impending deadline, as a US law mandates that Chinese parent company ByteDance sell its stake or face a potential ban by January 19. Last week, the Supreme Court heard arguments on TikTok's emergency appeal to block the law, with justices seeming doubtful about the company's First Amendment claims.
Bloomberg's sources suggested that Chinese officials view a potential deal with Musk, who has strong connections to Trump and significant business interests in China through Tesla, as a possible way to ease tensions. Musk had previously voiced opposition to banning TikTok, stating on X in April that such a move would be "contrary to freedom of speech and expression."
Any potential sale would encounter major challenges, such as the intricate process of technological separation and the need for approval from both the US and Chinese governments. Analysts from Bloomberg Intelligence have previously valued TikTok's US operations between $40 billion and $50 billion.