Elon Musk denies interest in TikTok as app’s US future remains uncertain

Elon Musk has said he has no plans to buy TikTok as the social media platform continues to face restrictions in the US.

Speaking at a virtual conference hosted by WELT Group, part of the German media company Axel Springer SE, on January 28, Elon Musk stressed his preference for building companies from scratch rather than acquiring existing ones.

“I have not put in a bid for TikTok,” the SpaceX and Tesla CEO said at the conference. “I don’t have any plans for what I would do if I had TikTok.”

Musk added: “I’m not chomping at the bit to acquire TikTok, I do not acquire companies in general, it’s quite rare. I usually build companies from scratch.”

In 2022, Musk acquired Twitter for $44 billion.

Musk’s comments came shortly after US President Donald Trump had publicly suggested Musk as a potential buyer for the platform.

Talks around TikTok’s ownership intensified following developments last month, when the app, which boasts around 170 million American users, briefly went dark after the US’s “divest-or-ban” law went into effect. TikTok restored access to US users after Trump extended the deadline for ByteDance to sell TikTok’s US operations by 75 days.

This past weekend, Trump appointed Vice President J.D. Vance and National Security Adviser Michael Waltz to oversee negotiations for a potential sale of TikTok to US-based entities, NBC News reported, citing “two people familiar with the arrangement.”

The president has proposed a possible 50/50 ownership split between American and Chinese interests. Last week, Trump signed an executive order to create a US sovereign wealth fund, with a potential focus on the acquisition of TikTok.

“I have the right to do that, and we might put that in the sovereign wealth fund, whatever we make, or if we do a partnership with very wealthy people, a lot of options, but we could put that as an example in the fund,” Trump told reporters in the Oval Office.

TikTok’s parent company ByteDance continues to face pressure to sell its US operations due to national security concerns. Both Apple and Google have removed TikTok from their app stores in compliance with US law. In response, TikTok has implemented alternative distribution methods, allowing Android users to download the app directly through its website.

Trump’s recent implementation of additional tariffs on Chinese imports has further complicated TikTok’s situation. The move may affect ByteDance’s willingness to negotiate, although some US officials, including Representative Raja Krishnamoorthi, suggest that ByteDance might be more open to selling now that other options have been exhausted.

Other reported potential buyers of the platform include tech giants Oracle and Microsoft, and AI startup Perplexity. Also, a group of American investors led by tech entrepreneur Jesse Tinsley said they have secured over $20 billion to bid for TikTok’s US operations. The consortium reportedly includes Roblox CEO David Baszucki and Anchorage Digital CEO Nathan McCauley

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