Donald Trump is open to the idea of Elon Musk acquiring TikTok, a move necessitated by legal requirements for ByteDance, TikTok's China-based owner, to divest. Trump argues that TikTok is financially insignificant without access to the U.S. market. To keep TikTok operational in the U.S., he has issued a 75-day reprieve on enforcement of the divestiture law. While TikTok has consistently rejected changes in ownership, Trump maintains that its value is tied to its American user base, which numbers 170 million.
Elon Musk, a known Trump ally, emerges as a potential buyer, having previously supported Trump’s campaign financially. This potential acquisition is complicated by concerns over data privacy and allegations that China might influence American public opinion through TikTok. Despite ByteDance’s refusal to sell, Trump's executive order temporarily halts any impending ban, allowing more time for negotiations.
Amidst these developments, other parties, including MrBeast and major corporations like Amazon and Oracle, have shown interest in acquiring TikTok. The situation remains fluid, with various stakeholders weighing in on the future of this popular video-sharing platform.
