TikTok responds to rumors that China wants to ask Musk to buy the platform: ‘pure fiction’
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As rumors circulated on Monday that China was looking at the owner of X to buy TikTok, a representative for the company said it was “pure fiction.”
Bloomberg reported on Monday that Chinese officials were considering an option that would involve Musk acquiring TikTok’s US operations before the platform is banned in the US, “according to people familiar with the matter.”
The publication wrote that Beijing officials prefer TikTok’s parent company, ByteDance, to continue to own TikTok as it opposes the upcoming ban by appealing to the US Supreme Court.
On Friday, the Supreme Court heard oral arguments on the future of TikTok.
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WASHINGTON (Reuters) – A U.S. appeals court on Friday upheld an order requiring China’s ByteDance to abandon its popular short video app TikTok in the United States by early next year or face a ban. (Reuters/Dado Ruvic/File Photo/Reuters)
Lawyers for the Biden administration reiterated their argument Friday that TikTok’s Chinese ownership poses a significant national security risk to American users.
At the end of oral arguments, it was not clear how the Supreme Court might proceed with the matter – although a decision or order is expected before the Jan. 19 came into effect.
Bloomberg said that under the terms discussed by Chinese officials, X, which is owned by Musk, would buy and control TikTok US. By doing so, TikTok can be useful when trying to attract advertisers as it has more than 170 million users in the US. Another potential beneficiary of the deal could be Musk’s artificial intelligence company, xAI, as it can take a large amount of data generated by TikTok, the publication reported.
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SpaceX and Tesla founder Elon Musk speaks at an American PAC town hall on Oct. 26, 2024 in Lancaster, Pa. Musk has donated more than $75 million to the America PAC, which he co-founded with other Silicon Valley venture capitalists and tech entrepreneurs. (Photos by Samuel Corum / Getty Images)
Those familiar with these discussions say that the discussions are preliminary, and no decision has been taken on how to proceed.
When asked about the discussions, TikTok told Fox Business, “We cannot be expected to comment on pure fiction.”
TikTok is facing a possible ban due to the Protection of Americans from Applications Controlled by Foreign Enemies Act, a law signed by President Biden that was passed in Congress last April with bipartisan approval. At midnight on January 19, the app may be removed from US-based app stores unless it is removed from its parent company.
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US President Joe Biden speaks during the National Association of Counties legislative conference in Washington, DC, US, Monday, Feb. 12, 2024. Biden’s re-election campaign launched a TikTok account in an effort to reach younger voters, a move that (Chris Kleponis/CNP/Bloomberg via Getty Images/Getty Images)
TikTok has faced controversy for being a China-based company and allegations that it is being used as spyware software for the Chinese Communist Party. Lawmakers on both sides of the aisle have warned about the potential national security threat TikTok poses as US calls.
This week, “Mr. Wonderful” Kevin O’Leary announced that he is working with Project Liberty founder Frank McCourt to buy the platform’s US assets from its parent company, ByteDance, and “rebuild the platform in a way that prioritizes its privacy.” 170 million American users.”
If their bid to acquire social media is successful, O’Leary explained how they would change the platform to better suit US interests.
Besides giving users ownership of their data and getting rid of “Chinese spyware”, the investor emphasized that TikTok has the potential to grow from its current 170 million users to “the last 200 million” by regaining the trust of users.
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This investor also revealed how he will look for countries such as India, Switzerland, France, Canada and Germany to enter the field after the establishment of these changes.
“This thing is going to be the biggest television network in the world in about two years,” O’Leary said of TikTok’s growth.
FOX Business’ Kira Mautone contributed to this report.
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