Elon Musk, China and TikTok
ByteDance, TikTok’s parent company, is required to sell the app to a U.S.-based buyer or face a nationwide ban.
Musk acquired X (then Twitter) in October 2022 after a highly publicized back and forth, in which he gave up on the acquisition midway but ultimately closed the deal, paying $44 billion for the platform. X's user base has been on a decline since the acquisition, and advertising revenues have plummeted.
Chinese officials reportedly want ByteDance Ltd. to remain the owners of TikTok but is in discussion on how to work with the Trump Administration.
TikTok denied a report that China is exploring a sale of the app to Elon Musk to keep TikTok operational in America amid a looming U.S. ban.
Chinese officials are looking into selling the U.S. operations of TikTok to Elon Musk if the social media firm ultimately gets banned here, according to reports.
TikTok’s time will expire on Jan. 19 if no buyer is found or the Supreme Court rules in the app’s favor. Here’s what to know.
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