Is Elon Musk poised to take over TikTok?

By Alessandro Carrara | Published: 14-Jan-2025

A proposed bill to ban TikTok came after US politicians expressed their concerns last year over the app’s alleged data privacy issues

The Chinese government has considered the potential sale of TikTok to US billionaire Elon Musk, following preliminary talks on preventing the social media app’s ban in America.

A divest-or-ban bill, which was approved by the US Senate in April 2024, has forced the Bytedance-owned business to either sell the platform or face it being blocked in the country.

Bytedance had until 9 January 2025 to respond to the new law.

Government officials in Beijing have stated that the country would prefer to maintain control of Bytdance, according to a report seen by Bloomberg.

However, it is reportedly exploring potential options such as running the business in tandem with the SpaceX and X-owner.

TikTok, however, has made light of the claims.

"We cannot be expected to comment on pure fiction,” a TikTok spokesperson told Cosmetics Business.

The proposed bill to ban TikTok came after US politicians expressed their concerns last year over the app’s alleged data privacy issues.

This is because Chinese companies are legally required to share data with the country’s government if requested to do so.

The Chinese Government has a ‘Golden Share’ in Bytedance, a method which allows it to gain control over private companies.

TikTok has fiercely fought back against the bill, repeatedly arguing that a proposed ban of the app in the US would infringe upon free speech.

In December 2024, a DC Court confirmed its intention to uphold the ruling, based on “national security concerns” around the app's Chinese ties,

In response, TikTok’s owner Bytedance requested a temporary injunction to be able to present the law to the Supreme Court for review.

The act is slated to take effect on 19 January 2025, which TikTok said would shut down “nation’s most popular speech platforms” on the eve of Donald Trump's presidential inauguration.

Cosmetics Business has contacted Elon Musk’s press team for a comment.

(Photo Credit: Debbie Rowe)

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