Elon Musk, the tech billionaire, made it clear that he has no interest in acquiring the video-sharing app TikTok. He further emphasized that he has no specific plans or intentions regarding what actions he would take if he were to become the owner of the platform.
"I haven't made a bid for TikTok and I don't have any plans for what I would do if I had TikTok," Musk remarked, noting that he doesn't personally use the app and isn't familiar with its format. He added, "I'm not chomping at the bit to acquire TikTok; I don't acquire companies in general, it's quite rare." Musk also mentioned that his billion-dollar purchase of social media platform Twitter, now known as X, was an exception to his usual approach.
"I usually build companies from scratch," Musk added.
Musk's remarks, made in late January, were shared online on Saturday by The WELT Group, which is part of the German media company Axel Springer SE. The group had hosted a summit during which the Tesla CEO joined the event remotely via video, offering insights that were later revealed to the public.
Musk, who purchased Twitter for $44 billion and rebranded it as X, had been considered a potential buyer of TikTok. However, in his remarks from January, he explained that he usually refrains from acquiring companies. He further stated that his decision to buy Twitter was driven by his commitment to protecting "freedom of speech."
Shortly after taking office, President Trump granted TikTok's parent company, ByteDance, an extra 75 days before a ban could be enforced. This decision provided the platform with a window to secure a U.S.-based buyer and replace its Chinese ownership. The move was in accordance with legislation signed by former President Biden, aimed at addressing national security concerns related to the app's ownership.
Earlier, TikTok also dismissed the speculation, labeling reports of Musk potentially buying the app as "pure fiction."
Meanwhile, former President Trump has announced that he is in talks with several parties regarding the acquisition of TikTok, with a decision expected to be made soon. Trump's move to support TikTok represents a significant shift from his stance during his first term in office, when he made unsuccessful attempts to ban the app. At that time, he expressed concerns that the company was sharing the personal information of American users with the Chinese government. This change in approach reflects the evolving dynamics and ongoing discussions surrounding the app's ownership and its implications for national security.
The app currently has around 170 million users in the U.S.
