China Rumored to Be Exploring Musk-Led TikTok Acquisition Amidst US Ban Threats

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China Rumored to Be Exploring Musk-Led TikTok Acquisition Amidst US Ban Threats
TIKTOKCHINAELON MUSK

As rumors swirl about potential Chinese intervention in TikTok's future, a representative for the platform denies involvement in a deal where Elon Musk would acquire TikTok's US operations. Bloomberg reports that Chinese officials are considering this option to circumvent a looming US ban, while TikTok maintains its innocence. The Supreme Court is currently deliberating on the fate of TikTok, with arguments centering on national security concerns and free speech implications.

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Rumors swirling on Monday suggested China was exploring the possibility of Elon Musk acquiring TikTok, prompting a swift denial from TikTok representatives. Bloomberg, citing unnamed sources, reported that Chinese officials were considering this option as a way to potentially circumvent an impending ban of the platform in the US.

According to the report, these officials would prefer ByteDance, TikTok's parent company, to retain ownership of TikTok while it appeals the ban to the US Supreme Court. On Friday, the Supreme Court heard oral arguments regarding TikTok's future. Lawyers representing the Biden administration reiterated their stance that TikTok's Chinese ownership presents a 'grave' national security risk to American users. While the Supreme Court's course of action remains uncertain, a decision or order is anticipated before the January 19th ban takes effect. Bloomberg further detailed a potential scenario where Musk's company, X, would acquire and manage TikTok's US operations. This move could bolster TikTok's appeal to advertisers given its extensive user base of over 170 million in the US. Additionally, Musk's AI company, xAI, could potentially benefit by accessing the vast amounts of data generated by TikTok.However, sources familiar with the discussions emphasized that these are preliminary deliberations, and no concrete decisions have been made. When contacted for comment regarding these discussions, TikTok told Fox Business, 'We can't be expected to comment on pure fiction.' TikTok is facing the potential ban due to the Protecting Americans from Foreign Adversary Controlled Applications Act, a law signed by President Biden in April with bipartisan support. By January 19th, the app could be removed from US app stores unless it is divested from its parent company. TikTok has been embroiled in controversy due to its Chinese origins and allegations of being used as spyware by the Chinese Communist Party. Lawmakers from both sides of the aisle have expressed concerns about the potential national security threat TikTok allegedly poses through US phones. This week, entrepreneur Kevin O'Leary announced a partnership with Project Liberty founder Frank McCourt to acquire TikTok's US assets from ByteDance and 'rebuild the platform in a way that prioritizes the privacy of its 170 million American users.' If their bid to acquire the social media platform is successful, O'Leary outlined plans to transform TikTok to better align with US interests. Besides granting users ownership of their data and removing the 'Chinese spyware', the investor highlighted TikTok's potential to expand its user base from 170 million to 'past 200 million' by regaining user trust. O'Leary also expressed his vision of attracting countries like India, Switzerland, France, Canada, and Germany to the platform after implementing these changes. 'This thing will become the world's largest television network in a matter of two years,' O'Leary stated about TikTok's growth potential.

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Chinese Government Considers Elon Musk Acquisition of TikTok's US BusinessChinese Government Considers Elon Musk Acquisition of TikTok's US BusinessIn a surprising development, the Chinese government is reportedly exploring a plan for Elon Musk to acquire TikTok's US operations amidst the ongoing legal battle surrounding the app's fate in the United States. This contingency plan is being considered as the US Supreme Court prepares to rule on a law that could effectively ban TikTok in the country. The report, citing anonymous sources, details how the Chinese government is evaluating several options for TikTok's future in the US. One such option involves Musk overseeing both X, the social media platform he currently owns, and TikTok's US business. However, the report emphasizes that this plan remains preliminary and Chinese officials have yet to make a final decision. The involvement of ByteDance, TikTok's parent company, and Musk in these discussions remains unclear. This news emerges as the US Supreme Court reviews a law passed in April that requires ByteDance to divest TikTok's US operations by January 19th. The court's decision is expected to have a significant impact on TikTok's future in the United States.
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China Considers Musk-Led TikTok Acquisition as US Ban LoomsChina Considers Musk-Led TikTok Acquisition as US Ban LoomsChina is exploring various options, including a plan for Elon Musk to acquire TikTok's US operations, in response to a potential US ban. The Chinese government is assessing its strategies as the US Supreme Court weighs the legality of a law that could force ByteDance to sell TikTok's US business.
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