If TikTok is banned in the United States, the popular app would consider selling to tech mogul Elon Musk, according to Bloomberg.
While Chinese officials would prefer the app remain under the ownership of ByteDance Ltd., TikTok is facing a Jan. 19 ban, and arguments before the Supreme Court last week made it appear unlikely the high court would intervene, Bloomberg said.
Chinese officials believe involving Musk would allow them to curry favor with the incoming Donald Trump administration, Bloomberg said. Musk spent $250 million to get Trump elected and was appointed by Trump to run a new group focused on government efficiency.
One scenario would see X, formerly known as Twitter and run by Musk, take control of TikTok U.S. and run the companies together, Bloomberg reported.
Deliberations remain preliminary and it is unknown how much ByteDance knows about the talks or whether TikTok or Musk have been involved, Bloomberg said.
Musk did not respond to a request for comment from Bloomberg but has previously opposed TikTok's ban. Representatives with ByteDance, TikTok, The Cyberspace Administration of China and China's Ministry of Commerce, government agencies that could be involved in decisions about TikTok's future, also didn't respond to requests for comment to Bloomberg.
Bloomberg estimates TikTok's U.S. operations could be valued between $40 billion to $50 billion. The Chinese government would have to approve any sale of the app. Musk, the world's richest man, paid $44 billion for Twitter in 2022.
Trump has opposed TikTok's ban and has vowed to save the app. "Shark Tank's" Kevin O'Leary and former Dodgers owner Frank McCourt have also put together a bid to buy the app.
TikTok has also discussed moving its U.S. customers to a similar app with different branding, Bloomberg said. Executives would prefer to keep fighting in the U.S. rather than sell TikTok U.S., Bloomberg reported.
Musk has positive relationships with Chinese government officials, opening a Tesla factory in Shanghai in 2019.
Sam Barron ✉
Sam Barron has almost two decades of experience covering a wide range of topics including politics, crime and business.
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