China likely to sell TikTok US to Elon Musk ahead of ban

Bloomberg report outlines possibility of Musk's X (formerly Twitter) taking over TikTok and leading both businesses
An undated image of the logo of TikTok. — Freepik

An undated image of the logo of TikTok. — Freepik 

With all eyes on it, as the country is gearing up to make its final move, it has emerged that China is reportedly considering selling TikTok's operations in the US to Elon Musk if it fails to overturn the law demanding its ban.

The short-video platform's sell-over to the tech billionaire was brought to light by Bloomberg on Tuesday.

TikTok getting banned in US?

The possibility of TikTok getting eventually banned in the US is still looming given Beijing being adamant about keeping its social media platform under the ownership of parent Bytedance, the publication noted while citing sources.

As it stands, ByteDance is expected to either be divested of TikTok operations in the US through a competitive process or some government-arranged way.

Now the fate of one of the biggest video-centred social media platforms hangs in the balance, with ByteDance having partially lost its control to the US.

Some Congress members stated that China has a “golden share” in ByteDance, which they believe empowers the US administration to rein in TikTok.

The report also outlines the possibility of Musk-owned X (formerly Twitter) taking over TikTok and simultaneously leading both businesses.