TikTok Addresses Reports on Elon Musk’s Potential Ownership

TikTok has officially dismissed allegations suggesting that the Chinese government is in discussions to sell the application to tech mogul Elon Musk. These claims surfaced amidst growing concerns in the United States regarding TikTok’s impending offline status following President Joe Biden’s endorsement of a bill that mandates a ban on the app, effective April 2024.

While there was a possibility for TikTok’s continued operation in the US, it hinged on the Chinese parent company, ByteDance, divesting its shares to a US entity. This led to speculation about potential negotiations between the Chinese government and Elon Musk, as reported by Bloomberg, which stated that China was contemplating a scenario in which Musk could acquire TikTok’s US operations to allow the app to remain accessible in North America.

However, a report from Variety reveals that TikTok is categorically denying these rumors, calling them “pure fiction.” As the situation stands, it seems imminent that TikTok will soon be a thing of the past within the United States.

X / Elon Musk

If Elon Musk were to acquire TikTok, he would effectively control two of the most significant social media platforms globally.

TikTok Labels Sale Speculations as “Pure Fiction”

In addressing inquiries about Musk’s potential acquisition of ByteDance’s interests, a TikTok spokesperson took a firm stance, stating, “We can’t be expected to comment on pure fiction.” This indicates a clear separation between the speculation and the company’s actual intentions.

Elon Musk has remained silent on the swirling rumors regarding his potential acquisition of a controlling interest in TikTok. Despite his reticence, it’s worth noting that he has previously ventured into the realm of social media management.

As the timeline progresses, TikTok is slated to cease its operations in the US on January 19, 2025. Although the company has attempted to challenge the ban through legal means, these efforts have repeatedly faced hurdles and setbacks.

Furthermore, TikTok’s CEO, Shou Zi Chew, is reportedly planning to appeal the unfavorable rulings regarding the ban. The outcome of these appeals will determine whether TikTok can retain its ownership while continuing to operate in the US market.

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