The future of TikTok hangs in the balance this week as the Supreme Court of the United States (SCOTUS) prepares to issue a verdict on banning the platform.
For months, speculation has been rising about what will become of the popular content creation app that has launched many viral videos and created entire careers.
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However, as political tides shift in the U.S. and Donald Trump returns to the White House, the nation’s highest court is just days away from deciding whether TikTok will be banned in the U.S.
Despite the Chinese app’s popularity, both Democratic and Republican politicians have expressed concern that it could pose a national security threat due to its alleged predatory user data collecting.
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Recently, a rumor regarding Tesla (TSLA) CEO Elon Musk and TikTok quickly spread across internet forums. However, as of now, it seems unlikely that it is anything more than pure speculation.
Elon Musk is keeping quiet about TikTok
For months, rumors have circulated that certain billionaires are purchasing TikTok from Chinese owner ByteDance in an attempt to prevent it from being banned in the U.S.
The list includes Shark Tank personality Kevin O’Leary, real estate tycoon Frank McCourt, and big tech leader Microsoft (MSFT) .
Yesterday, Bloomberg reported that Chinese officials were open to considering making a deal with Musk if the ban moves forward. The report stated, “Senior Chinese officials had already begun to debate contingency plans for TikTok as part of an expansive discussion on how to work with Donald Trump’s administration, one of which involves Musk.”
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However, despite considerable speculation recently, TikTok has made one thing extremely clear: it is not currently in talks with Musk to acquire the platform.
After he purchased X (formerly Twitter in 2022), it might have made sense to assume that Musk might consider a bid for TikTok. While he hasn’t issued any statements on the rumor, TikTok responded to Variety's request for a comment, stating, “We can’t be expected to comment on pure fiction.”
That said, acquiring TikTok might make sense for Musk. X has struggled significantly to retain users and advertising clients since he purchased it in October 2022. A platform with TikTok’s reach could help him reach more users and help attract new advertisers.
Even with that in mind, experts don’t seem optimistic that such a deal will happen. O’Leary also expressed skepticism that Musk will buy the platform. “The regulators hate monopolies, and Trump’s not letting go of this golden bargaining chip,” he stated in a recent X post.