Elon Musk
WASHINGTON: Billionaire entrepreneur Elon Musk has ruled out any plans to purchase TikTok, the widely popular short-video platform currently embroiled in a national security debate in the United States due to its Chinese ownership under ByteDance.
Musk made these remarks in late January during a virtual appearance at a summit hosted by The WELT Group, a subsidiary of German media conglomerate Axel Springer SE. His comments were released online on Saturday, putting an end to speculation regarding his potential interest in acquiring the app.
“I have not put in a bid for TikTok,” Musk stated, addressing rumors that had gained traction after former U.S. President Donald Trump suggested he would be open to Musk buying the app if he wished to do so. The Tesla and SpaceX CEO further clarified that he had no concrete plans or vision for TikTok even if he were to acquire it.
“I don’t have any plans for what I would do if I had TikTok,” he admitted, adding that he does not personally use the platform and is unfamiliar with its format. Emphasizing his general approach to business acquisitions, Musk remarked, “I’m not chomping at the bit to acquire TikTok. I do not acquire companies in general, it’s quite rare.”
He pointed out that his high-profile purchase of Twitter, now rebranded as X, was an exception rather than the norm. “I usually build companies from scratch,” he added, reinforcing his preference for starting ventures rather than acquiring existing ones.
The uncertainty surrounding TikTok’s future in the U.S. stems from concerns over its potential risks to national security. Lawmakers have raised alarms that ByteDance could be compelled by the Chinese government to share American user data.
In response, an executive order was signed by the U.S. president, postponing the enforcement of a ban that had been scheduled for January 19. The order stipulated that ByteDance must divest TikTok’s U.S. operations by the deadline or face a nationwide ban. TikTok has consistently denied allegations of sharing American user data with the Chinese government and has assured compliance with all relevant data protection laws.
Despite the uncertainty, Apple and Google have not yet reinstated TikTok in their app stores since a U.S. law affecting the platform came into effect. In an attempt to bypass restrictions, TikTok announced on Friday that U.S. Android users could download and access the app via package kits available on its website.
Meanwhile, Trump has revealed that he is in discussions with multiple parties about the potential sale of TikTok and is expected to make a decision about the app’s future later this month. With approximately 170 million American users, TikTok remains a significant player in the U.S. social media landscape.
Adding another layer to the debate, the U.S. president recently signed an executive order calling for the establishment of a sovereign wealth fund within the year, which, he suggested, could potentially be used to acquire TikTok. However, ByteDance has previously denied any intention of selling the platform.
Interestingly, Trump’s current stance on TikTok contrasts with his position during his first term in office, when he actively sought to ban the app over concerns about Chinese data collection.
More recently, he has softened his position, stating, “I have a warm spot in my heart for TikTok,” and acknowledging that the platform played a role in helping him connect with young voters during the 2024 presidential election.
As speculation continues, neither ByteDance nor TikTok has issued an official response to the latest developments outside of regular business hours.
