Did Elon Musk Buy TikTok: If a deal is struck, one of the world’s most well-known analysts who follows Musk said that the price tag is likely to be similar to what Musk paid to buy Twitter – in a bid to buy the American operations of TikTok, even as China is reported to be considering allowing the transaction go through in order to head off an all-out ban in America.
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TikTok will be banned Sunday unless ByteDance divests stake in its U.S operations to an American promoter; nevertheless, the Supreme Court is set to review an appeal to ban and Trump, who has vilified the idea of banning TikTok, is able to extend the deadline by 90 days after his Monday inauguration.
How Many Americans Use Tiktok?
27% of Americans use TikTok, this is based on a June survey conducted by the Pew Research Center, more than those who use X, 21%. Still, fears that Tik-Tok’s Chinese owner, ByteDance, might give user data to China’s government propelled lawmakers to seek a ban if the latter does not sell the platform.
Other American billionaires are also heavily engaged in this high-stakes soap opera, notably Jeff Yass of the Susquehanna International Group, which has a 15 per cent holding in ByteDance.
Elon Musk Buys Tiktok
elon musk tiktok: Tesla, Musk’s biggest business venture and electric vehicle company does considerable business in China. Of all the revenues of $25.2 billion in the company’s most recent quarter, almost 23% or $5.7 billion was generated from China. Ives also recently pointed to the ‘strong relationship’ that Musk has with the Chinese government in support of his argument about TikTok.
Elon Musk’s net worth of $421 billion has propelled him to become more than $180 billion wealthier than any other human being, based on our latest calculations. Musk owns 12% shares in Tesla and 42% in his aerospace government contractor SpaceX come to over half of his wealth.
Did Elon Musk Buy TikTok? Tangent
Musk appeared in conversation among Chinese officials in considering its TikTok ban and broader deliberations on engaging Trump’s White House, Bloomberg found. The tech CEO has especially communicated with Chinese authorities and has been favorable to the nation and its leadership, the Wall Street Journal has pointed out.
When asked about the TikTok-Musk rumors, a TikTok representative told the outlet: Of course, the official we asked this question to replied in a rather diplomatic manner: “We cannot be expected to comment on pure fiction.”
A well enthusiast between Musk and Chinese President Xi Jinping mean having Musk supervising the U.S. TikTok operations is among the many strategies that ByteDance is readying for the Supreme Court case awaiting final verdict, and the falling January 19th TikTok ban or divestment deadline.
But this is not a totally shocking direction as in the background, the Trump White House is considering other actions should the Supreme Court uphold the ban, according to Ives.
After being passed by Congress in April, President Joe Biden signed a sell-or-ban TikTok bill on national security reasons. Last week, the Supreme Court listened to Byte Dance’s plea against the move and seemed poised to support the ban, which was sparked by fears that TikTok forwards user data to the Chinese government and manipulates content.
Certain politicians suggested extending the time before the prohibition goes into effect and Trump has vowed to “rescue” TikTok, claiming that he asks the Supreme Court to postpone the enforcement of the ban until after his inauguration so that he can work with the politicians to find a political solution.
Jan. 19 TikTok ban deadline
TikTok intends to continue providing wages to its USA staff if the Supreme Court decides not to repeal the law that would compel the sale of the short-video sharing application in the US or its banning, according to an internal memo.
The massively downloaded application belongs to Beijing-based ByteDance; it has 7,000 employees in the USA.
“I can’t stress enough how much your wellbeing matters to me and hence firstly and most importantly I wanted to remind everyone that even if the situation regarding your employment, pay and benefits in the US wasn’t settled before January 19th, your jobs, wages and benefits are protected and all TikTok offices shall remain fully operational,” the memo to TikTok workers said.
The law was passed in April and the court appearance last week suggested it would uphold the law forthcoming, though the U.S. President- elect Donald Trump and lawmakers want the Jan. 19 deadline to be extended.
Trump on Tiktok Ban
This Trump has said he should have time after taking the office to look for a “political solution” to the problem.
The details of the memo include the following Our leadership team remains laser focused on planning for various scenarios and continuing to plan the way forward, TikTok said.
TikTok said the bill is not framed in a manner that threatens the entities through which the company operates in the country but the US user experience alone It said it will do all it can to safeguard its employees along with the more than 170 million TikTok users in the United States.
If the court does not stall the law by Sunday- it will prohibit download of Tik-tok from fresh Apple or Google app stores- but existing users would still be able to use the app for a while. The platform’s offered services would deteriorate and cease to function because no other company would be allowed to support TikTok.
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