Musk says he has no plans to buy TikTok

Tech billionaire Elon Musk said he is not interested in acquiring the video-sharing app TikTok, and has no plans regarding what he would do if he owned it.

Musk made the remarks during a virtual session at the WELT Economic Summit held on Jan. 28, as seen in a video released by The WELT Group on Saturday.

“I haven’t made a bid for TikTok, nor do I have any plans regarding what I would do if I owned it,” Musk said.

U.S. lawmakers had initially planned to block TikTok due to national security concerns, but a ban on the platform was delayed.

Shortly after taking office President Trump granted TikTok’s parent company, ByteDance, 75 more days before a ban could take effect. This gave the platform time to find a US-based buyer to replace its Chinese ownership, as per legislation signed by former President Biden.

Despite ByteDance stating that they are not planning to sell, some investors have shown interest in buying the company.

Musk, who bought Twitter for $44 billion and changed the social media platform’s name to X, was thought to be a possible buyer. But, he mentioned in his January remarks that he usually does not buy companies, saying that his purchase of Twitter was about protecting “freedom of speech.”

TikTok in January also shut down the speculation, calling the reports of Musk potentially buying the app “pure fiction.”

Meanwhile, Trump has stated he is in discussions with various parties about acquiring TikTok, with a decision anticipated soon.

The app boasts around 170 million users in the U.S.

On Monday, the president issued an executive order to establish a sovereign wealth fund that may be used to purchase TikTok.

MrBeast, a popular YouTuber named Jimmy Donaldson, publicly expressed his desire to purchase the app in January. “Shark Tank” investor Kevin O’Leary and former LA Dodgers owner Frank McCourt are among several billionaires who have also shown interest.