To avoid US ban, China may sell TikTok to Elon Musk: Report

Time is running out for TikTok, the Chinese social media company, to find a buyer in the United States or face a ban in one of its biggest markets. TikTok, owned by Chinese company ByteDance, has time until January 19 to find a buyer or face a ban in the US, under the Protecting Americans from Foreign Adversary Controlled Applications Act (PAFACA), which President Biden signed into law in April 2024.

CREDIT: REUTERS

China still exploring options

ByteDance has so far ruled out a sale and has challenged the ban in the US Supreme Court, which has remained unsuccessful so far. With less than a week left before the deadline expires, a new report claims that Elon Musk could emerge as the new owner of TikTok.

According to a Bloomberg report, while Chinese officials still want TikTok to be owned by ByteDance, the company failed to get a favourable verdict from the US Supreme Court. Elon Musk is being considered a potential buyer.

Future of TikTok in US

Musk, the CEO of Tesla, already owns the social media platform Twitter, which he purchased in 2022 and renamed as X.

CREDIT: REUTERS

According to the report, under one scenario, Musk’s social media platform X would take control of TikTok U.S. and run the business together. It also added that the Chinese officials have yet to reach any firm consensus about how to proceed, and their deliberations are still preliminary.

What Trump said on TikTok ban

It should be noted that Donald Trump, who during his first term in office as the US President started the war on TikTok, has changed his stance on the future of the short-video app.

CREDIT: REUTERS

Trump, who expressed support for TikTok during the election campaign, has also promised to save the app from getting banned in the US. Last month, he had urged the US Supreme Court to delay the TikTok ban while he works on a "political resolution."

Also read:?Donald Trump dances with Adin Ross, says he will 'keep TikTok going'

According to the current timeline, the TikTok ban will come into effect on January 19, one day before the inauguration of Trump as the 47th President of the United States.

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