Elon Musk Rules Out TikTok Bid
Elon Musk, CEO of Tesla and SpaceX, has publicly stated his lack of interest in acquiring the video-sharing platform TikTok. During a virtual meeting at the WELT Economic Summit, Musk confirmed he has not submitted a bid and lacks plans for the potential use of the platform.
TikTok, a Chinese-owned app with approximately 170 million monthly American users, faced a potential ban on January 20, 2021, due to national security concerns. The ban was later delayed for 75 days by President Donald Trump, providing ByteDance, TikTok's parent company, additional time to secure a non-Chinese buyer.
While some investors have expressed interest in purchasing TikTok, ByteDance has maintained its intention to retain ownership. YouTube and TikTok influencer MrBeast (Jimmy Donaldson) and former Los Angeles Dodgers owner Frank McCourt are among those who have publicly shown interest.
Musk, the world's wealthiest person, was once considered a potential bidder. However, he emphasized his aversion to acquiring companies, describing it as "highly unusual." He asserted that his acquisition of Twitter was motivated by the preservation of free speech in America and expressed skepticism regarding the applicability of this rationale to TikTok.
Musk stated that his decision-making process involves assessing the potential harm or usefulness of specific algorithms. He acknowledged that any potential buyer of TikTok's US assets would need to evaluate the algorithm that drives user experiences.
Tesla and SpaceX have not responded to CNN's request for comment.