China May Sell TikTok US to Elon Musk Before January 19 Ban; TikTok Denies Rumors

Jan 14, 2025, 09:44 AM

Chinese officials are reportedly considering selling TikTok's US operations to Elon Musk's company X (formerly Twitter) in a potential $50 billion deal as a solution to prevent a looming ban on the popular video-sharing app in the United States. Under a US law passed last year, ByteDance, TikTok's parent company, is required to sell the application by January 19, 2025, or face an outright ban due to national security concerns over Chinese ownership. The Supreme Court is expected to make a decision by the deadline. Reports from Bloomberg suggest that Musk is being eyed as a buyer due to his influence and connections. TikTok, which has 170 million US users, has dismissed these rumors as 'pure fiction.' The developments underscore the escalating tensions between the US and China over technology and data security.