Musk in Talks to Take Over US TikTok Unit

The Chinese government might allow Elon Musk to acquire TikTok’s US unit and integrate it with his social media platform X. China is reportedly prepared to make such a decision if the US Supreme Court upholds a ban on the app.

Bloomberg reported that if a deal was to be reached, X would take control of TikTok US, which has about 170 million users, and operate the platforms together. The tie-up could be valued at between $40 billion and $50 billion. A representative of ByteDance-owned TikTok, which is focused on fighting the ban, said it would not comment on pure fiction.

While China faces difficult negotiations with the incoming Donald Trump administration over tariffs and export controls, the government sees talks with Musk, a close adviser to Trump, as a potential area for China-US reconciliation. The Chinese government made clear earlier it would have a say over any possible sale of TikTok.

US Supreme Court justices reportedly favor upholding a ban on TikTok, which goes into effect on 19 January, due to national security concerns. US President Joe Biden signed legislation in April 2024 that forces ByteDance to divest its ownership in TikTok or face a nationwide ban.