Janice R. Andrews
In a notable twist, U.S. President Donald Trump has voiced his support for Elon Musk, the billionaire entrepreneur, to acquire TikTok. The short-video platform has been under intense scrutiny due to concerns about its ties to its Chinese parent company, ByteDance. Speaking on Tuesday, Trump stated he would back Musk buying the platform “if he wanted to,” signaling a potential pathway for TikTok’s U.S. operations.
New Deadlines and a Potential Deal
TikTok is racing against the clock after a U.S. Supreme Court decision upheld a law mandating it to cut ties with ByteDance, requiring a U.S.-based buyer. Trump’s recent executive order granted the platform an additional 75 days to secure a deal.
When asked about Musk’s interest in TikTok, Trump responded, “If he wanted to,” adding, “I have the right to make a deal.”
The president proposed a unique arrangement, suggesting that half of TikTok’s revenue should go to the U.S. government as part of any deal. “Buy it and give half to the United States of America, and we’ll give you the permit,” he explained, calling the proposal “reasonable.”
Growing Interest from U.S. Investors
Interest in acquiring TikTok has been mounting. On Sunday, a group of American investors led by tech entrepreneur Jesse Tinsley and TikTok creator MrBeast announced their bid for the platform. Similarly, earlier this month, billionaire Frank McCourt, former owner of the Los Angeles Dodgers, and “Shark Tank” investor Kevin O’Leary submitted a $20 billion cash offer.
Meanwhile, reports suggest Chinese officials might consider allowing Elon Musk to purchase TikTok. Bloomberg recently highlighted discussions of a potential 50-50 partnership between Musk and ByteDance. However, Musk has yet to publicly confirm any interest.
On social media, Musk recently criticized the platform’s operations in the U.S., writing, “It’s unbalanced for TikTok to operate here while X is banned in China.” Despite this, Musk has expressed opposition to a TikTok ban, citing concerns over freedom of speech.
TikTok Responds to Speculation
TikTok has dismissed speculation about Musk’s potential involvement as “pure fiction.” The platform, which serves around 170 million users in the U.S., briefly went offline on Sunday when ByteDance failed to comply with the divestiture deadline. Services were restored after Trump assured TikTok more time to negotiate.
In a statement, TikTok reiterated its commitment to working with U.S. authorities to find a long-term solution. “We are dedicated to ensuring TikTok remains accessible to our users and creators in the United States,” the company said.
Trump’s Changing Position on TikTok
Trump’s support for TikTok remaining in the U.S. marks a shift from his earlier stance. During his first term, he threatened to ban the app outright unless ByteDance sold it, issuing an executive order to that effect. However, the order was struck down by a federal court.
The president’s position has evolved, possibly influenced by his meeting with Jeff Yass, a major Republican donor and ByteDance investor. After the meeting, Trump softened his stance, focusing instead on ensuring the platform’s operations align with U.S. security interests.
Ellison’s Potential Role
During Tuesday’s remarks, Trump turned to Oracle co-founder Larry Ellison, who was present, for his input on the matter. “He can afford it too,” Trump quipped, referring to Ellison’s ability to purchase TikTok.
Oracle, a previous contender for TikTok’s U.S. operations, could reenter discussions as Trump continues to push for an American buyer.
What Lies Ahead for TikTok?
TikTok’s future in the U.S. remains uncertain as it seeks a buyer to meet government requirements. With potential suitors like Musk, McCourt, and others in the picture, the platform’s fate could be shaped by complex negotiations and political considerations.
Trump’s suggestion that Musk acquire TikTok adds another layer to this unfolding story. If Musk decides to pursue the platform, it could transform the narrative and redefine TikTok’s standing in the U.S.
This ongoing saga highlights the intersection of politics, technology, and international business, with the future of one of the world’s most popular social media platforms hanging in the balance.
