Elon Musk Shatters TikTok Acquisition Rumors, Declares No Plans

Published 1 hour ago2 minute read
Elon Musk Shatters TikTok Acquisition Rumors, Declares No Plans

Elon Musk, owner of the social media platform X, has explicitly denied any interest in acquiring the U.S. operations of the Chinese short video platform, TikTok. These claims emerged from comments Musk made during a video call as part of an event session in late January, with the footage later released online by The Welt Group, a division of the German media company Axel Springer, which hosted the summit. Musk's refutation comes amidst ongoing controversies surrounding TikTok, which has been under scrutiny by the U.S. government due to national security concerns related to its Chinese parent company, ByteDance.

The speculation regarding Musk's potential acquisition gained traction just a week after then-President Donald Trump indicated he would be open to the idea. Earlier reports from about four weeks prior, including one by Bloomberg, suggested that the Chinese government was reportedly considering a scenario where ByteDance might sell TikTok’s U.S. base to the Tesla founder. This hypothetical sale was contingent on the U.S. Supreme Court backing a ban or sale of the app by January 19, the day before President Donald Trump was sworn in, as part of a broader strategy to work with the incoming administration. Despite TikTok's substantial presence with approximately 170 million American users and billions in ad revenue, an unnamed spokesperson told Business Insider that the news of a potential sale to Musk was unfounded.

Musk further solidified his disinterest during the panel discussion, stating he does not personally use TikTok and is unfamiliar with its format. He emphasized his general reluctance to acquire companies, describing it as

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