Elon Musk has officially commented on the ongoing rumors about TikTok takeover, ending speculation about his involvement in the acquisition.
Elon Musk, the CEO of Tesla and SpaceX, has recently spoken out about the ongoing rumors regarding his interest in buying TikTok.
This news comes amid ongoing discussions about TikTok’s future and ownership, raising concerns, particularly in the United States.
The background of TikTok
TikTok is a widely used app that allows users to create and share short videos.
It has gained immense popularity, particularly among younger audiences.
However, its ownership by the Chinese company ByteDance has led to scrutiny from governments.
U.S. lawmakers have expressed concerns about data security and potential spying.
These worries have sparked discussions about TikTok’s future in the country.
In 2020, former President Donald Trump attempted to ban TikTok in the U.S. due to these concerns.
He even suggested that the app should be sold to an American company.
Although the ban did not go through, the discussions about its ownership continue.
Elon Musk addresses rumors about potential TikTok acquisition for the first time
In a recent summit organized by the WELT Group, Elon Musk addressed the rumors surrounding his potential purchase of TikTok.
He clarified that he was not interested in acquiring the app.
Musk stated, “I have not put in a bid for TikTok, I don’t have any plans for what I would do if I had TikTok.”
He emphasized that he prefers to build companies from the ground up rather than acquiring existing ones.
“I’m not chomping at the bit to acquire TikTok, I do not acquire companies in general, it’s quite rare.”
“I usually build companies from scratch.”
This statement comes after various speculations had suggested that Musk might consider adding TikTok to his already impressive portfolio of companies, which includes Tesla, SpaceX, and X (formerly Twitter).
Many were intrigued by the idea of Musk taking on TikTok, given his influence in the tech world.
The rumors and other interested parties
Before Musk’s comments, there were rumors that he, along with YouTuber Jimmy “MrBeast” Donaldson, had shown interest in purchasing TikTok.
However, Musk’s recent statements put those rumors to rest, making it clear that he has no intention of pursuing the app.
While Musk has a significant presence in the technology sector, he also indicated that he does not personally use TikTok.
Trump had previously mentioned that he would be open to Musk buying ByteDance, but it seems that Musk is not keen on entering the TikTok arena.
The future of TikTok in the US
As TikTok continues to navigate its challenges, the app remains accessible in the U.S. However, its fate is still uncertain.
The U.S. government hasn’t decided on ownership, and ByteDance is not interested in selling TikTok.
This leaves TikTok in a complicated position, especially with ongoing discussions about its operations and data privacy.
In addition to Musk, other potential buyers are being discussed, including tech billionaire Larry Ellison.
Discussions about TikTok’s ownership and potential sale have kept the tech community on edge.