Does Elon Musk buy TikTok?: Donald Trump’s secret plan

Does Elon Musk buy TikTok?: Donald Trump’s secret plan

According to reports from Bloomberg and The Wall Street Journal, there was a discussion about the sale of TikTok in which Trump was involved.

Elon Musk could take over another social network.

The elected president donald trump He said he wants to “save” TikTok. A possible savior could be Elon Musk. Chinese government officials, according to reports from Bloomberg and The Wall Street Journal, They discussed the sale of the American business from the social media app to the owner of X, formerly known as Twitter.

TikTok’s parent company, ByteDance, is Chinese. Officials would prefer to keep TikTok under ByteDance ownership, according to media reports, but they discussed selling to Musk as part of their contingency plans if the Supreme Court upholds a US law that bans the platform on January 19 unless it is sold to an owner that is not controlled by a foreign adversary.

Trump, who during the election campaign suggested in a social media post that he would “save TikTok,” asked the Supreme Court to suspend the divestment deadline and consider your preference for a “negotiated resolution”given that, as president, he will be responsible for national security. Trump will take office on January 20. Antitrust experts predict that Musk could overcome the legal hurdles imposed by his acquisition of TikTok, which some estimate could amount to $40 billion-$50 billion. One of the reasons is that TikTok and X have different users.

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Elon Musk’s relationship with Donald Trump

Musk has a close relationship with the incoming president, having spent more than $250 million supporting his re-election campaign and helping lead a government cost-cutting effort as part of a new Department of Government Efficiency (DOGE). Musk paid $22 billion for X in 2022 and also runs several other companies, including electric vehicle maker Tesla (TSLA), SpaceX, Neuralink, Boring Co. and an artificial intelligence startup X.AI.

TEsla has a factory in China and sells many of its cars to that part of the world. In April, Musk posted on X that ““In my opinion, TikTok should not be banned in the United States, even though such a ban may benefit platform X.” “Doing so would be contrary to freedom of expression. It is not what the United States stands for.”

Both Bloomberg and The Wall Street Journal reported that there are a number of unknowns surrounding any potential deal with Musk, including whether he would have to sell any of his other holdings, whether U.S. regulators would approve it and what kind of influence officials would have. of Beijing when suggesting that ByteDance sell to a particular buyer. A TikTok spokesperson responded to Bloomberg’s report by saying that “we cannot be expected to comment on pure fiction.”

Source: Ambito

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