Elon Musk Denies Interest in Acquiring TikTok, Citing Lack of Purpose Beyond Economics

Elon Musk Denies Interest in Acquiring TikTok

Elon Musk has stated that he has no plans to acquire TikTok in the United States. This comes amidst ongoing uncertainty surrounding the app's future in the country, following a law passed last year requiring its Chinese owner, ByteDance, to sell it to a US company or face a ban.

Musk's comments came during a virtual appearance at a business conference in Germany. He clarified that he has not submitted a bid for TikTok and has no plans for what he would do with it if he did acquire it.

The law requiring ByteDance to divest from TikTok was signed by former President Joe Biden last year. The US government expressed concerns that TikTok's Chinese ownership posed a security risk. The Supreme Court upheld the law in January, and President Donald Trump subsequently signed an executive order giving ByteDance 75 days to find a buyer.

Several investors have expressed interest in purchasing TikTok, including "Shark Tank" mogul Kevin O'Leary and former Dodgers owner Frank McCourt. However, Musk has indicated that he is not interested in joining the race.

During his appearance at the conference, Musk stated that he does not personally use TikTok and is not eager to acquire it. He described his acquisition of Twitter in 2022 as a "rare" and "highly unusual" purchase, driven by his desire to preserve freedom of speech in America. He acknowledged that the acquisition has been challenging but emphasized its importance.

Musk further stated that he sees only monetary reasons for acquiring TikTok, unlike his motivations for purchasing Twitter. He questioned the purpose of acquiring TikTok beyond economic considerations.

ByteDance has maintained that it does not plan to sell TikTok. If the Trump administration does not intervene, TikTok could be banned in the United States by April.