KEY TAKEAWAYS
- According to reports, Chinese officials are considering selling TikTok's U.S. operations to Elon Musk if the social media firm ultimately gets banned here.
- Bloomberg reported that China is considering a scenario in which Musk's X platform would control TikTok US, adding 170 million users to the former Twitter and drawing advertisers.
- The Wall Street Journal said that Musk, a close ally of President-elect Donald Trump, is considered a “trusted non-Chinese party.”
- ByteDance called the reports “pure fiction,” according to a statement provided to Investopedia.
Chinese officials are considering selling TikTok's U.S. operations to Elon Musk if the social media firm ultimately gets banned here, according to reports.
Bloomberg reported that Beijing “strongly” prefers that TikTok stays under the control of ByteDance, which is appealing the impending U.S. ban of the short-video app with the Supreme Court. China is considering a scenario in which Musk's X platform would control TikTok in the U.S., adding 170 million users to the former Twitter and drawing advertisers.
X didn't respond to an Investopedia request for comment.
Musk Considered ‘Trusted Non-Chinese Party'
The Wall Street Journal reported that Musk, a close ally of President-elect Donald Trump, is considered a “trusted non-Chinese party.” Musk's Tesla (TSLA) has a factory in Shanghai, and China is one of its biggest markets.
“We cannot be expected to comment on pure fiction,” a TikTok spokesperson said in a statement provided to Investopedia.
Supreme Court justices are seen likely to uphold the law due to concerns that the Chinese app controls so much personal data of U.S. citizens.
