TikTok refutes reports of sale to Elon Musk

Abdullateef Fowewe

The renowned social media platform, TikTok has tagged as a ‘pure fiction’ report that the Chinese government is considering allowing the sale of the platform to CEO of Tesla and Space X (formally Twitter), Elon Musk to ensure its continued operation in the United States.

Early Tuesday, reports from Bloomberg News and The Wall Street Journal indicated that Chinese officials have discussed the possibility of selling TikTok to Musk, to avoid a ban set to take effect on Sunday unless ByteDance, TikTok’s Chinese owner, sells its US operations.

The reports also suggested that Chinese officials are debating “contingency plans,” albeit Beijing has not communicated any of these plans to ByteDance.

One of the scenarios being discussed, according to Bloomberg, would involve integrating TikTok into Musk’s social media platform X.

However, the report also noted that it remains unclear how Musk, whose net worth exceeds $400 billion, would carry out such a transaction or if he would need to sell other assets to fund the purchase.

Reacting to the report on Tuesday, the TikTok spokesperson said, “We cannot be expected to comment on pure fiction.”

Dailyeconomy gathered that the development comes as the US Supreme Court is considering the constitutionality of a potential TikTok ban, prompted by the Protecting Americans from Foreign Adversary Controlled Applications Act.

However, it was learned that TikTok has filed a legal challenge against the bill, arguing that it violates on free speech protections under the First Amendment.

During oral arguments on Friday, a majority of Supreme Court justices appeared skeptical of TikTok’s argument, suggesting they were inclined to uphold the ban.

The bill was signed into law by outgoing President Joe Biden in April following concerns over national security risks related to TikTok’s data practices and its potential for influencing public discourse.

Both Democratic and Republican lawmakers have raised concerns that TikTok may be collecting personal data from US users and potentially using the platform to manipulate public opinion.

President-elect Donald Trump, who will be inaugurated on January 20, had previously promised to “save” the platform during his presidential campaign, a shift from his earlier attempts to ban the app during his first term.