Reports have emerged suggesting Elon Musk, the tech billionaire, is being eyed by Chinese authorities as a potential buyer of TikTok. The social media app is facing a ban in the U.S. from Sunday, January 19, over national security concerns.
This is what we know so far.
Newsweek has reached out to the press department for Musk's Tesla via email for comment.
Why It Matters
A third of American adults use TikTok, according to data from the Pew Research Centre. The app's relationship with its Chinese parent company ByteDance has led to concerns it could be used for spying and political disruption.
Musk, the world's richest man, is an influential figure in politics and technology. The owner of social media site X (formerly Twitter) was recently appointed by President-elect Donald Trump to lead the newly created Department of Government Efficiency (DOGE). He is a close ally of the next president and was the largest political donor in the 2024 election.
What To Know
Ahead of the looming TikTok ban, Bloomberg reported Monday, citing people familiar with the matter, that Chinese officials are currently weighing up an option that would see its business in America sold to Musk.
TikTok has shut down the reports. In an email shared with Newsweek, a spokesperson for TikTok said: "We cannot be expected to comment on pure fiction."
According to Bloomberg, the Chinese government, which has a controlling 'Golden Share' in ByteDance, would strongly prefer the company retain control of TikTok but is exploring alternatives, including a possible sale to Musk, as part of ongoing discussions about how to respond to the potential U.S. ban.
A scenario allegedly under discussion involves the X app owned by Musk taking control of TikTok's U.S. operations and integrating the two platforms, Bloomberg and The Wall Street Journal have reported, citing unnamed sources.
However, it is unclear at this time if ByteDance is aware of these discussions, or if the SpaceX chief and TikTok have engaged in talks of any kind.
Supreme Court justices are expected to rule on a law that sets a deadline of Sunday, January 19, for TikTok to either sell its operation in the U.S. or to face a ban in the country.
TikTok has consistently said that it will not sell its American operation.
What People Are Saying
Musk has not addressed reports on purchasing TikTok but has opposed efforts to ban the app in the U.S. In April 2024, he said: "In my opinion, TikTok should not be banned in the USA, even though such a ban may benefit the X platform. Doing so would be contrary to freedom of speech and expression. It is not what America stands for."
President-elect Trump said at a press conference in December following his election win: "I have a warm spot in my heart for TikTok because I won youth [in the 2024 election] by 34 points. And there are those who say TikTok has something to do with it."
What's Next
TikTok will appear before the Supreme Court on Friday, January 17, in a final attempt to prevent a national ban of the app.
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