Tesla owner and SpaceX CEO, Elon Musk has denied any plans to acquire TikTok’s US business, dismissing speculation that he might step in amid ongoing national security concerns surrounding the Chinese-owned social media app.
Speaking remotely at a conference in Germany hosted by Axel Springer CEO Mathias Doepfner, Musk clarified his stance. “I have not put in a bid for TikTok,” he said. “I don’t have any plans for what I would do if I had TikTok.”
Musk also revealed that he does not use the platform personally. “I’m not chomping at the bit to acquire TikTok,” he added. “I usually build companies from scratch.”
Despite Musk’s lack of interest, former President Donald Trump has suggested he would be open to Musk taking over TikTok’s US operations. Trump’s remarks come as discussions continue over whether ByteDance, TikTok’s Chinese parent company, should be forced to sell its American division or face a ban.
According to Bloomberg, Chinese officials have been evaluating the possibility of allowing Musk’s X (formerly Twitter) to take control of TikTok US and operate it in partnership with the government.
Trump, who previously supported banning TikTok during his first term, appears to have shifted his stance after the platform helped him win younger voters. “We won the young vote. I think I won it through TikTok, so I have a warm spot in my heart for TikTok,” he admitted.
TikTok’s fate in the US remains uncertain, with legal battles and government negotiations ongoing. On his first day back in office, Trump signed an executive order delaying the forced sale or shutdown of TikTok, giving ByteDance additional time to reach a deal.
This week, Trump also signed another executive order directing officials to establish a US sovereign wealth fund that could be used to facilitate TikTok’s sale.
ByteDance, however, has publicly refused to sell the platform. Observers believe the Supreme Court’s ruling on national security laws may ultimately force the company’s hand, though the Chinese government would need to approve any transaction.
While Musk has ruled out any such move currently, analysts predict that Musk will review an acquisition in the future if circumstances shift. Meanwhile, US President, Donald Trump has indicated that TikTok might be acquired by either Larry Ellison from Oracle or Elon Musk through a government-supported partnership.
Trump’s Answer to Musk Buying TikTok:
At present Musk dedicates his attention to his existing business operations while legal authorities and Chinese ownership groups will decide TikTok's future.