According to Bloomberg sources, China still prioritizes keeping TikTok under the control of parent company ByteDance, but does not rule out the possibility that Elon Musk, as "Tesla boss", will take over TikTok's operations in the US.
Preliminary talks are ongoing, but no specific agreement has been reached on the process or manner in which the transfer will be carried out.
Some of the proposed scenarios include selling TikTok through a competitive process or through government-approved deals, but any decision remains up to the parties involved and no consensus has been reached.
This shows that TikTok's future in the US no longer depends entirely on ByteDance, especially when the Chinese government still holds a "golden stake" in the company, according to The Guardian.
In response to the above information, a TikTok spokesperson declined to comment, affirming that these are baseless rumors.
In April 2024, President Joe Biden signed a law requiring ByteDance to sell TikTok’s US operations by January 19, 2025. Failure to comply would result in a ban on the social media platform.
The US Justice Department has argued that TikTok could pose a national security threat due to its ties to the Chinese government, alleging that the app could potentially be used for espionage.
In a move to fight back, TikTok and ByteDance filed a lawsuit, arguing that the law violates the First Amendment of the US Constitution, which protects freedom of speech. However, during the debate on January 10, the Supreme Court carefully considered arguments related to free speech and the national security concerns that the app could cause, especially when TikTok currently has 170 million users in the US.
TikTok’s future in the US remains a big question mark. However, the possibility of Elon Musk taking part in a takeover of the platform is considered a remarkable prospect, not only because of his influence but also because of the potential for profound changes to the way TikTok operates in the US market.
