Could Elon Musk purchase TikTok?
Image credit: Daniel Oberhaus
As TikTok faces being booted from the United States, a purchase by Elon Musk is a rumoured solution to keep the app running in the states.
The U.S. Supreme Court has given TikTok a deadline of the 19th of January to either sell its business or face a ban in the United States. No decision has been made, but ByteDance – the Chinese parent company of TikTok – is in the process of discussions to decide what to do about the ultimatum.
Reports suggest that Elon Musk is possibly in line to buy out TikTok’s American operations. Musk’s ownership of the hugely popular social app would be a very big deal. Musk is both the owner of X, one of the world’s largest social media platforms, and serving as a top adviser to Donald Trump, who will take the Presidency on the 20th.
Musk’s dual-ownership of two of the most significant social platforms in the U.S. would raise serious questions over a monopoly. As such, the likelihood of Musk buying out TikTok seems unlikely to be allowed, even if the rumours are true and the deal is attempted.
ByteDance refute the rumours of a Musk buyout for TikTok’s American business. When asked to comment, they responded: “We can’t be expected to comment on pure fiction.”
TikTok faces a ban in the U.S. because of its Chinese ownership. The U.S. Congress passed a bill to ban the platform if it didn’t find a new owner, citing national security concerns. TikTok and their parent ByteDance have pushed back against claims and are currently challenging the bill to ban TikTok in the Supreme Court.
TikTok’s future in the U.S. may not be so inevitably final. President-elect Donald Trump has expressed support for the platform and seeks to delay the ban. Despite trying to ban the app himself in 2020, he said during his election campaign: “For all of those who want to save TikTok in America, vote Trump.”