Elon Musk Dismisses TikTok Acquisition

Tech billionaire Elon Musk has firmly stated that he has no interest in acquiring the video-sharing app TikTok, nor does he have any plans regarding what he would do if he owned it.

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Musk made these remarks during a virtual session at the WELT Economic Summit on January 28. A video released by The WELT Group on Saturday captured Musk’s statement:

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“I haven’t made a bid for TikTok, nor do I have any plans regarding what I would do if I owned it.”

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Concerns over TikTok’s ownership have been a hot topic among U.S. lawmakers, who initially sought to ban the app due to national security risks. However, the ban was postponed, allowing ByteDance, TikTok’s Chinese parent company, additional time to find a U.S.-based buyer, as per legislation signed by former President Biden.

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Despite ByteDance’s assertion that they are not considering selling TikTok, various investors have expressed interest. Among them, notable figures such as MrBeast (Jimmy Donaldson), “Shark Tank” investor Kevin O’Leary, and former LA Dodgers owner Frank McCourt have publicly entertained the idea of acquiring the platform.

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Musk, who acquired Twitter (now rebranded as X) for $44 billion, was speculated to be a potential buyer. However, he clarified in January that he does not frequently purchase companies, emphasizing that his Twitter acquisition was driven by a commitment to protecting “freedom of speech.”

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TikTok has also dismissed speculation regarding Musk’s involvement, calling such reports “pure fiction.”

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Meanwhile, former President Donald Trump has stated that he is engaged in discussions with various parties about the potential purchase of TikTok, with a decision expected soon. Additionally, on Monday, the current president issued an executive order establishing a sovereign wealth fund that could be utilized to acquire the app.

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The video-sharing platform boasts approximately 170 million users in the U.S., making it a highly coveted asset in the tech industry. As speculation continues, Markelitics analysts predict that any potential acquisition could reshape the social media landscape, particularly in terms of content moderation and data security.

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With multiple high-profile investors in the mix, the future of TikTok remains uncertain. Whether it stays under ByteDance's control or changes hands, it will continue to be a focal point of global tech and political discussions.

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