Elon Musk, the entrepreneur behind Tesla and X, is being considered a potential buyer for TikTok’s US operations if the app faces a ban in the United States.
According to Bloomberg, unnamed sources claim the Chinese government has considered the possibility of handling the situation if legal challenges fail to stop the ban.
However, TikTok representatives dismissed this as “pure fiction” in comments to Variety. They stated, "We can’t be expected to comment on pure fiction".
Did you know?
Subscribe - We publish new crypto explainer videos every week!
Blockchain Transaction Easily Explained! (Animated)
Meanwhile, Musk, who previously expressed opposition to banning TikTok in the US, stated on X:
In my opinion, TikTok should not be banned in the USA, even though such a ban may benefit the X platform.
He emphasized that banning TikTok would go against the principles of free speech and expression.
ByteDance, TikTok’s parent company, has been fighting to overturn the law requiring them to either sell their US operations or shut them down entirely.
The law, set to take effect on January 19, was passed due to concerns about the app’s ability to collect user data and fears that the Chinese government could use this information for surveillance.
ByteDance argues that these measures violate the First Amendment rights of TikTok's 170 million US users.
President-elect Donald Trump sought to delay the enforcement of the law to allow for further negotiations. If the law is upheld, ByteDance will have to sell TikTok's US operations, which analysts estimate could be worth $40 to $50 billion.
Meanwhile, Musk recently revised his plan to cut $2 trillion from US government spending through the Department of Government Efficiency (DOGE). What's his reason? Read the full story.
