Renowned entrepreneur Elon Musk has recently dismissed rumors about his interest in acquiring the US arm of TikTok. This statement follows renewed talks about a potential purchase of the app amidst alleged national security threats posed to the US.
Elon Musk's Refutation
Speaking in a video address during an event, Elon Musk stated, "I have not put in a bid for TikTok." This followed a comment from US President Donald Trump, who earlier expressed openness to Musk purchasing TikTok. Musk emphasized that he does not use the app and is unfamiliar with its format. "I rarely acquire companies, and the acquisition of Twitter, now known as X, was an exception," he added.
TikTok's Status in the US
TikTok has been caught in a dilemma over the 'sell or ban' law in the US for months. The app faces accusations from US authorities for posing a national security threat due to its strong ties with China. A law signed by President Biden in April 2024 mandates ByteDance to sell its US operations by January 19, 2025. Failure to comply could result in the app's ban from app marketplaces.
TikTok's Prospects and Trump's Plans
After a temporary suspension, TikTok's service in the US briefly resumed, aided by a promise from newly elected President Donald Trump to restore access once in office. Apple and Google have not yet reinstated the app in their stores. TikTok confirmed it's allowing US users to download the app through packages on its website to circumvent restrictions. This shift succeeds new plans from Donald Trump, who had initially signed an order for TikTok’s sale during his first term but later approved a partnership instead of a sale.
The situation surrounding TikTok remains uncertain. While discussions about selling the app to Elon Musk arose, Musk himself shows no interest in such an acquisition. Meanwhile, the US government demands ByteDance sell TikTok's US assets, leaving the app's future in the American market unresolved.