As the clock hands move ever closer to TikTok’s ban in the US, it’s perhaps unsurprising that the world’s wealthiest man with a penchant for buying embattled internet platforms is being touted as the social media site’s potential savior.
In the latest twist to TikTok’s tale, it is now being reported that Elon Musk could be involved with purchasing its US operations from parent company ByteDance and, in doing so, prevent the ban that is due to commence this coming weekend on January 19th.
However, Musk’s potential acquisition has not been verified by official channels and sources from within TikTok itself have reportedly called the idea a ‘pure fiction’.
China Weighs Up the Options
While rumors about the potential sale of TikTok to Musk have been swirling since the South African tech mogul visited Beijing last year, Bloomberg has now reported (paywalled) that Chinese officials are now seriously weighing up the sale of the platform’s US operations to the owner of Tesla and X.
Bloomberg says that sources “familiar with the matter” view selling the app to Musk as a possible contingency plan, assuming that US courts do not renege on the ruling.
This just in! View
the top business tech deals for 2025 👨💻
However, “Chinese officials have yet to reach any firm consensus about how to proceed”, and would still sooner that TikTok is retained by ByteDance.
But with most other options exhausted, courts unwilling to budge and attempts to convince incoming president Donald Trump to overturn the ban so far unsuccessful, a scenario in which X, formerly Twitter, takes control of TikTok has never been closer to reality.
TikTok Throws Cold Water on Rumors
Any TikTok users in the US hoping that these developments will provide a lifeline to their favorite app should probably not get their hopes too high.
The Bloomberg report says that it’s unclear “whether Musk, TikTok, and ByteDance have held any talks about the terms of any possible deal”, or whether ByteDance executives are privy to Beijing’s discussions.
Not famed for his restraint when it comes to posting on X, Musk’s social media silence on the matter doesn’t suggest that a deal that would see him take control of TikTok is imminent.
And Variety has since reported that a representative from within TikTok has thrown cold water on the prospect of a Musk takeover, saying that: “We can’t be expected to comment on pure fiction.”
Time Running out for TikTok
Ever since the “Protecting Americans from Foreign Adversary Controlled Applications Act” bill passed through the US House of Representatives last March, time has been against TikTok’s future in the US.
Those seeking its stateside survival received a fillip following the presidential election, with winner Donald Trump stating that he would stop the TikTok ban as part of his reelection campaign.
But with less than a week until the proposed start date of the ban, options to save TikTok appear to be running out.
It’s understood that China is generally frosty towards the idea of ByteDance selling its US operations, although offers – including one from a group led by former Los Angeles Dodgers owner Frank McCourt – have been formally made.
That being said, the firm’s hand may be forced if a reprieve doesn’t emerge within the next few days.
