Elon Musk ‘in talks’ to buy TIKTOK from China to dodge impending US ban on app over security fears
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ELON Musk is said to be in talks with China over the possibility of buying TikTok to avoid an impending US ban on the platform. The app is facing a ban in the US from January 19 due to national security concerns. Officials in Beijing—home to TikTok's parent company, ByteDance—are reportedly discussing a possible sale to the tech tycoon, Bloomberg reports.
But Tiktok has dismissed the claim as "pure fiction". A TikTok spokesperson said: "We can't be expected to comment on pure fiction.". TikTok's Chinese parent company, ByteDance, must sell the beloved app to a government-approved buyer by January 19 or face a ban over security concerns about China.
The US government alleges TikTok allows Beijing to collect data, spy on users and spread propaganda but China and ByteDance have strongly denied the claims. The report said Chinese officials are now in preliminary talks about a potential sale to Mr Musk should the firm be unable to block the ban.
It said the social media giant's US business could either be sold through a competitive process or through an arrangement by the Chinese government. One of the possibilities discussed by China sees the Tesla boss taking over TikTok US operations. The report estimated the value of TikTok's US operations at between $40 billion and $50 billion.
The move would provide Musk with a huge user base and unlimited data as TikTok has over 170 million users in the US - benefitting X as well as Musk's artificial intelligence company, xAI. Musk is a close ally of Trump and is expected to play an influential role in Washington in the coming four years.