TikTok blasts rumors of Elon Musk's potential acquisition as pure fiction

In the United States, TikTok is facing significant scrutiny due to its Chinese ownership amidst concerns regarding national security risks. Recent discussions have emerged regarding the possibility of Elon Musk acquiring TikTok’s US operations, particularly as the platform confronts an impending ban under legislation known as the Protecting Americans from Foreign Adversary Controlled Applications Act. This law, signed by President Biden, poses that TikTok must divest from its parent company, ByteDance, to remain operational in the U.S. As of January 19, the app could be banned unless measures are taken to address these ownership concerns. On January 12, 2025, TikTok's officials responded to circulating rumors that suggested Chinese authorities were interested in Musk's involvement with the platform, albeit their statement categorically labeled these claims as 'pure fiction.' Sources revealed that while discussions involving Musk's potential acquisition were preliminary, they were nonetheless highlighted in news reports. Officials in Beijing reportedly prefer that ByteDance continues to own TikTok, particularly as it challenges the U.S. Supreme Court regarding the legality of the proposed ban. The legal landscape surrounding TikTok has been complex, involving extensive debates regarding its operations in the U.S. The Biden administration has consistently pointed to the platform's Chinese ownership as a core source of national security risks for American users, igniting a bipartisan consensus around the need for scrutiny and potential action against such foreign-controlled applications. The Supreme Court recently heard oral arguments on this matter, with a decision anticipated prior to the enforcement of the ban. Investors like Kevin O'Leary have started showing interest in acquiring TikTok's U.S. assets, proposing strategies to reconfigure the platform in a manner that emphasizes user privacy and safety. O'Leary's plans include improving user trust and expanding the platform's demographic reach to other countries such as India and Germany. He emphasized TikTok’s growth potential, suggesting that trust restored in the platform could propel its user base beyond 200 million. Overall, while rumors of Elon Musk’s potential acquisition gain traction, TikTok has firmly countered these narratives while navigating a complicated path through legislative, legal, and public opinion challenges surrounding its viability and ownership in the U.S.