TikTok rejects reports of sale to Elon Musk
14 January, 2025 23:19
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TikTok has termed as “pure fiction” reports that suggest the Chinese government is considering the sale of the app to Elon Musk to ensure its continued operation in the US.
Bloomberg News and The Wall Street Journal reported that Chinese officials have discussed the possible sale of TikTok to Musk, CEO of Tesla and SpaceX, with the view to avoid a ban set to take effect on Sunday unless ByteDance, TikTok’s Chinese owner, sells its US operations.
They also reported that Chinese officials are debating “contingency plans,” although Beijing has not shared any of these plans to ByteDance.
According to Bloomberg, one of the scenarios being discussed would involve integrating TikTok into Musk’s social media platform X.
The report, however, also noted that it remains unclear how Elon Musk, whose net worth exceeds $400 billion, would conduct such a transaction or if he would need to sell other assets to pay for the purchase.
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