There were several reports that the Chinese government might sell TikTok to Elon Musk, the owner of X. However, the app has now addressed the matter.
TikTok has dismissed these reports and “strongly prefer” that the video app remains under the control of Beijing-based ByteDance.
Earlier, some American media reports that Chinese officials discussed allowing the sale to the Tesla and SpaceX CEO to avoid a ban scheduled to take effect on Sunday.
Bloomberg said it was not clear how Musk, the world’s richest person with an estimated net worth of more than $400bn, would carry out the transaction or if he would need to sell some of his other assets to complete any sale.
When will TikTok be banned in US?
Last week, the Supreme Court heard arguments for two-and-a-half hours over whether TikTok can be banned in the United States in less than one week. By the end, the justices appeared ready to allow the US government to force TikTok’s Chinese parent company to sell the company or go dark.
The social media giant wants to delay enforcing the law, scheduled for Jan. 19, which they say violates the US Constitution’s First Amendment protection against government abridgment of free speech.
If the ban takes effect on Sunday, Apple and Google would no longer be able to offer TikTok for downloads for new users, but existing users could still access the app. Hence, the app will eventually become unusable over time because companies would not be able to offer support services.
Outgoing President Joe Biden signed the TikTok bill in April amid bipartisan concerns about alleged national security risks.
On the other hand, President-elect Donald Trump, who is set to be inaugurated on January 20, pledged to “save” the platform during his presidential campaign.
