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- Chinese officials have dismissed rumors of Elon Musk buying TikTok, calling it “pure fiction,” amid U.S. regulatory pressures.
- TikTok faces a potential U.S. ban, with ByteDance disputing legal actions and Supreme Court skepticism looming over free speech claims.
Rumors linking Elon Musk to a potential purchase of TikTok have been labeled as “pure fiction” by Chinese government officials. The bold statement came after Bloomberg reported that the Beijing-based platform was exploring options to maintain its operations in the United States, including a possible sale to Musk.
“We can’t be expected to comment on pure fiction,” a TikTok spokesperson told BBC News.
Despite ongoing regulatory hurdles, representatives have dismissed the idea of relinquishing control of ByteDance’s U.S. subsidiary. The speculation gained traction amid a looming Supreme Court decision scheduled for January 19. The ruling could force TikTok’s parent company, ByteDance, to sell the platform or face an outright ban in the United States.
Supreme Court Weighs TikTok Ban
The legal backdrop adds weight to the issue. The Protecting Americans from Foreign Adversary Controlled Applications Act, signed by outgoing President Joe Biden in April, underpins the case. Lawmakers have voiced concerns over TikTok’s data practices and its potential for influencing public discourse.
TikTok has challenged the legislation, arguing it violates First Amendment protections for free speech. However, early indications suggest skepticism from Supreme Court justices. During oral arguments on Friday, many justices appeared inclined to uphold the ban, which could affect over 170 million U.S. users.
Adding fuel to the fire, Musk’s connection to the speculation stems from his prominent role in U.S. politics and his friendship with Donald Trump. Bloomberg suggested Musk could potentially team up with ByteDance, leveraging TikTok’s massive user base to boost his platform, X, formerly Twitter.
Musk’s $400B — Not Enough for TikTok
Questions remain about the feasibility of Musk’s involvement. The Tesla CEO, with a net worth exceeding $400 billion, would need to navigate significant financial and regulatory hurdles to acquire TikTok. Reports also suggest Musk may need to sell other assets to fund the acquisition.
Meanwhile, Trump, an ally of Musk, hinted at plans to delay the Supreme Court’s ruling if he assumes office. The pro-Bitcoin leader previously expressed interest in saving TikTok, positioning himself as a potential mediator in the unfolding saga.
The potential ban’s impact resonates deeply with TikTok’s massive user base. On Monday, YouTube influencer MrBeast humorously stated his willingness to purchase TikTok to prevent the ban.
“Okay fine, I’ll buy Tik Tok so it doesn’t get banned,” YouTube influencer MrBeast jokingly tweeted on Monday.
While the rumors persist, Beijing has remained steadfast in denying any plans to sell TikTok. Officials emphasized their commitment to ByteDance’s operations and their resolve to fight the regulatory challenges ahead.
