Tech entrepreneur Elon Musk, who purchased Twitter in 2022, is being considered by the Chinese government as a potential buyer for the wildly popular social media site. TikTok — which features short form videos and caters to a younger audience — faces a potential ban in the United States unless it is sold to an American company by July 19. A bipartisan bill to ban the social network in the U.S. easily passed in both chambers of Congress after lawmakers raised concerns about national security, data mining and a host of additional issues if the Chinese company is allowed to operate in its current form in the United States.
Bloomberg, citing multiple sources familiar with the matter, reported that Chinese government officials have considered selling TikTok’s U.S. operations to Musk if the Supreme Court does not stop the ban from going through by January 19. Parent company ByteDance is currently appealing the ban before the nation’s highest court, though justices signaled that they are likely to uphold the law during arguments on January 10. Given the situation, the Chinese government has reportedly discussed “contingency plans” for TikTok as part of a broader strategy on how to work with President-elect Trump’s Administration. One of the plans for TikTok involves Elon Musk, multiple sources told the outlet on the condition of anonymity.
The Chinese government is expected to have final say over whether the companies U.S. operations are ultimately sold. The sources added that TikTok deal involving Elon Musk — one of the President-elect’s closest allies — is very much under consideration. In one scenario, Musk’s X would take control of TikTok U.S. and run the companies together. A deal could be appealing for Musk, as the company’s 170 million U.S. users could go a long way in attracting advertisers to X after the company was targeted by coordinated boycotts due to Musk’s political activities.
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