CHINA CONSIDERS SELLING TIKTOK’S US OPERATIONS TO ELON MUSK: BLOOMBERG

Tue 14 January 2025:

China is looking at a potential option that involves selling TikTok’s operations in the US to tech-billionaire Elon Musk to keep the app from being effectively banned, Bloomberg News reported Monday.

Chinese officials prefer that TikTok remains under the ownership of parent ByteDance Ltd., Bloomberg said, citing sources familiar with the matter.

Last week, the US Supreme Court signaled that it will uphold a ban on TikTok by Jan. 19 — a day before President-elect Donald Trump takes the oath of office — over national security concerns about China.

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According to Bloomberg, senior Chinese officials had already begun to debate contingency plans for TikTok as part of an expansive discussion on how to work with Trump’s administration.

Under one scenario, Musk’s social media platform X — formerly Twitter — would take control of TikTok US and run the businesses together, according to the report.

Officials have yet to reach a firm consensus on how to proceed, it said.

“It’s not clear how much ByteDance knows about the Chinese government discussions or whether TikTok and Musk have been involved. It’s also unclear whether Musk, TikTok and ByteDance have held any talks about the terms of any possible deal,” the report added.

The TikTok controversy centers around concerns the U.S. government has regarding national security, data privacy, and potential foreign influence. TikTok is owned by ByteDance, a Chinese company, which has raised fears that user data could be accessed by the Chinese government under its laws.

Critics worry that TikTok could be used for surveillance or to spread propaganda, although TikTok denies these claims and says it operates independently.

In response, U.S. lawmakers and agencies have proposed bans or restrictions on the app, citing risks to national security. Some states and government entities have already banned TikTok on official devices.

TikTok has tried to address these concerns by proposing “Project Texas,” a plan to store U.S. user data on American soil, managed by Oracle, and increasing transparency.

Despite these efforts, the debate continues, fueled by broader tensions between the U.S. and China over technology and influence. The controversy highlights larger issues about data security and the regulation of foreign-owned tech platforms in the U.S.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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