Not So Fast: Elon Musk Buying TikTok is ‘Pure Fiction’, Says Video-Sharing Platform

It was reported that tech billionaire Elon Musk, who acquired Twitter in 2022, was being eyed by the Chinese government as a potential buyer for TikTok.

TikTok has rejected reports claiming Chinese officials have discussed letting Elon Musk buy the platform if it fails to fight off a looming U.S. ban, calling the reports “pure fiction.”

The company’s remarks came in response to reports from Bloomberg and The Wall Street Journal that said Beijing was considering allowing Musk to invest in or take control of TikTok’s U.S. assets.

Bloomberg reported that Chinese officials had discussed one scenario in which X would control TikTok’s U.S. operations, allowing the businesses to be run together.

The report said it was unclear if Musk, TikTok, and ByteDance had discussed a possible deal.

A representative for TikTok denied the claims in a statement provided to Fortune, saying: “We can’t be expected to comment on pure fiction.”

The reports linking Musk to the video-sharing platform come just days before TikTok’s parent company, China-based ByteDance, faces a deadline to sell off U.S. assets or shut down operations in the country.

TikTok has been contesting the deadline, and Chinese officials have said they would prefer the video-sharing platform to remain under ByteDance’s ownership.

The divest-or-ban deadline set for January 19 results from a years-long battle over TikTok’s future in the U.S.

Initial efforts to force a sale of the platform’s U.S. operations began in 2020, with then-President Trump citing national security concerns.

The platform has faced continued scrutiny from the Biden administration, which banned the app from federal devices in February 2023.

In April 2024, President Biden signed a bipartisan law forcing TikTok’s parent company, ByteDance, to sell its U.S. operations or shut down in the country.

In December, the law was upheld by the federal appeals court after TikTok sued the U.S. federal government to challenge the ruling.

ByteDance has continually said it won’t consider selling off its U.S. operations, arguing that the law forcing it to do so is unconstitutional and violates free speech laws.

On Friday, the company argued its case against the divest-or-ban law before the Supreme Court with TikTok’s attorney, Noel Francisco, warning the platform would “go dark” in the U.S. this month if the Supreme Court didn’t extend the deadline.

The Supreme Court has yet to issue a ruling, however, a majority of justices have signaled that they are likely to uphold the law.

via: Fortune

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