Tech billionaire Elon Musk, who acquired Twitter in 2022, is being eyed by the Chinese government as a potential buyer for TikTok, according to Bloomberg, as the popular social media app faces a potential ban in the U.S. on Jan. 19 if it is not sold to an American company.
Bloomberg, citing unnamed people 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 on Jan. 19—though the people noted the deliberations are preliminary and officials prefer to keep TikTok under the ownership of China-based developer ByteDance (ByteDance told Forbes it “can’t be expected to comment on pure fiction” when asked about the Bloomberg report).
January 10, 2025
The Supreme Court heard oral arguments over the law requiring TikTok to be sold to a U.S. company or face a ban, with justices appearing “inclined” to uphold the law after appearing satisfied with its focus on the controversial Chinese ownership of the app’s parent company, according to The New York Times.
January 9, 2025
McCourt said his organization’s proposal, the value of which was not disclosed, would keep the platform alive in the U.S. but rebuild it in a way that prioritizes Americans’ privacy and doesn’t rely on the current TikTok algorithm, which has raised national security concerns (it’s unclear whether ByteDance is considering the offer). Project Liberty’s plan would involve migrating TikTok’s U.S. users to an American-built digital infrastructure and would require significant interest from private equity funds and private investors, as well as debt financing “from one of the largest banks in the United States,” the group said in a statement.
January 6, 2025
“Shark Tank” star and investor Kevin O’Leary, part of The People’s Bid for TikTok, told Fox News’ Martha MacCallum he planned to buy the app and that he would need President-elect Donald Trump’s help to do so.