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Amid growing tensions over TikTok’s future in the United States, reports have emerged that Chinese officials are considering Elon Musk as a potential buyer for TikTok’s US operations if the platform is banned in America. The move could be part of a contingency plan aligned with the incoming Trump administration, as the platform faces significant pressure from U.S. lawmakers and the federal government.
ByteDance, TikTok’s parent company, is actively fighting the looming ban through legal channels, with a January 14 Bloomberg report citing unnamed sources familiar with the matter. Under one potential scenario discussed by Chinese officials, Musk’s social media platform, X, could assume control of TikTok’s U.S. business, merging both entities under one umbrella. However, a TikTok spokesperson dismissed the report as “pure fiction” when contacted by Variety.
The legal battle over TikTok intensified in recent months, especially after U.S. lawmakers voiced concerns about the app’s ties to the Chinese government and the potential for surveillance of American users. In March 2023, TikTok CEO Shou Chew faced grilling from Congress, which led to bipartisan legislation requiring ByteDance to divest its stake in TikTok or face a potential ban. The law, which could come into effect on January 19, aims to protect U.S. citizens’ data privacy.
🚨BREAKING: ELON IN TALKS TO BUY TIKTOK
— Alex Finn (@AlexFinnX) January 14, 2025
This makes SO much sense
For YEARS Elon has been pushing X to be a video first platform. In fact, a short form video tab is mere weeks from launching
Buying TikTok for pennies on the dollar and INSTANTLY having a library of video… pic.twitter.com/yWcsk7ZyIn
While the Supreme Court recently signaled it might uphold the law requiring ByteDance to sell or shut down its U.S. operations, President-elect Donald Trump has expressed a desire to delay the ban to allow for further negotiations. TikTok’s U.S. business could be valued at up to $50 billion, according to Bloomberg Intelligence.
Also Read: Sonic SVM Set to Disrupt Crypto Gaming with SONIC Token Airdrop on TikTok
Elon Musk, known for his free speech advocacy, previously opposed a ban on TikTok, stating that such a move would go against America’s values of freedom of expression. The potential sale to Musk raises questions about how TikTok’s future in the U.S. might unfold, but for now, the story remains a developing one.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
A lifelong learner with a thirst for knowledge, I am constantly seeking to understand the intricacies of the crypto world. Through my writing, I aim to share my insights and perspectives on the latest developments in the industry. I believe that crypto has the potential to create a more inclusive and equitable financial system, and I am committed to using my writing to promote its positive impact on the world.
