TikTok Responds to Reports of Elon Musk’s Acquisition as New Owner

TikTok has firmly denied speculation suggesting that the Chinese government is negotiating a sale of the popular social media platform to tech entrepreneur Elon Musk. This assertion comes as the United States anxiously awaits TikTok’s impending shutdown, scheduled for April 2024, when President Joe Biden’s recently signed legislation to ban the app takes effect.

The law stipulates that TikTok could potentially remain operational in the U.S. if its parent company, ByteDance, agrees to divest its ownership to an American entity. In light of this requirement, reports emerged about possible discussions between Chinese authorities and Musk about him acquiring TikTok’s U.S. operations. Bloomberg indicated that these talks were aimed at keeping the app available for North American users.

X / Elon Musk

If Elon Musk were to acquire TikTok, he would own two of the largest social media platforms in the world.

TikTok Responds: Rumors of Sale to Elon Musk Are “Pure Fiction”

In light of the swirling rumors regarding a potential sale to Musk, a TikTok spokesperson expressed clear dismissal of the claims, stating, “We can’t be expected to comment on pure fiction.” This remark underscores the lack of credibility regarding the discussions. Musk has yet to weigh in on this speculation or confirm any interest in acquiring a significant stake in TikTok, despite his previous ventures into social media management.

As the situation unfolds, TikTok is facing a critical deadline, with the app’s operations slated to cease on January 19, 2025. Although TikTok has initiated legal actions to contest the ban, these efforts have encountered consistent setbacks in the courts.

Meanwhile, TikTok’s CEO, Shou Zi Chew, is reportedly preparing to challenge the decisions that have hindered the app’s ability to operate. The outcome of these appeals remains uncertain, raising questions about whether TikTok can continue its presence in the U.S. market while maintaining its ownership structure.

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