• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

China discusses TikTok sale to Elon Musk as potential option- Bloomberg

by January 14, 2025
written by January 14, 2025

Investing.com– Chinese officials are considering a potential sale of TikTok’s U.S. operations to Elon Musk, if the social media giant is unable to duck a controversial ban being proposed by U.S. authorities, Bloomberg reported on Monday.

The report said that while Chinese officials preferred that TikTok remained under parent ByteDance Ltd, they were already discussing potential contingencies, including the sale to Musk.

ByteDance contested the ban in the U.S. Supreme Court. But recent discussions showed that U.S. judges were also likely to uphold any potential ban on the short video platform. 

Speculation over a TikTok ban grew as the inauguration of President-elect Donald Trump drew near, especially given that Trump has promised to adopt an even stricter stance against Beijing. 

The Supreme Court gave ByteDance a January 19 deadline to either sell TikTok or face a potential U.S. ban on the grounds of national security. 

TikTok is used by roughly half of the U.S. population- around 170 million users. Lawmakers had raised concerns that the platform was collecting U.S. user data and was undermining national security, with Congress voting in favor of the ban last year. 

A TikTok ban bodes well for other U.S. social media platforms such as Meta Platforms’ (NASDAQ:META) Instagram and Alphabet Inc’s (NASDAQ:GOOGL) YouTube, both of which had rolled out their own short video platforms amid heightened competition from TikTok.

A sale of the social media platform to Musk could bring it closer in line with Musk’s treatment of Twitter, which the Tesla Inc (NASDAQ:TSLA) CEO bought in 2023 and rebranded as “X.” 

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Hyundai, Stellantis, Delta each donating $1 million to Trump inaugural fund
next post
Australia’s CAR Group shares rise on exiting tyres business

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • Apple plans direct retail expansion in Saudi Arabia
    • Starbucks announces several changes, including plans to cut some menu items

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy