TikTok responds to rumors that China wants to ask Musk to buy the platform: “Pure fantasy”

With rumors circulating on Monday that China is looking to acquire the owner of X Buy TikTokA representative for the latter said it was “pure fantasy.”

Bloomberg reported on Monday that Chinese officials were considering an option that involved Musk taking over TikTok’s U.S. operations before the platform was banned in the United States, “according to people familiar with the matter.”

Officials in Beijing prefer ByteDance, TikTok’s parent company, to continue ownership of TikTok as it objects to the impending ban through an appeal to the US Supreme Court, the publication wrote.

On Friday, the Supreme Court heard oral arguments on the future of TikTok.

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Biden administration lawyers reiterated their argument on Friday that TikTok’s Chinese ownership poses a “serious” national security risk to American users.

At the conclusion of the oral arguments, it remained unclear how the Supreme Court might act on the matter, although a ruling or order is expected before the January 19 ban takes effect.

Bloomberg said within the framework of the scenario discussed by Chinese officials, X, which is Run by Muskwill acquire and control TikTok US. In doing so, TikTok can be an asset when trying to attract advertisers as it has over 170 million users in the United States. Musk’s artificial intelligence company, xAI, is also likely to benefit from the deal, as it can ingest massive amounts of data generated by TikTok, the publication said.

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Those familiar with the discussions claim that the deliberations are preliminary, and no decision has been made on how to proceed.

When asked about the discussions, TikTok told Fox Business: “We are not expected to comment on pure fiction.”

TikTok faces a potential ban due to the Protecting Americans from Apps Surveilled by Foreign Adversaries Act, a The law signed by President Biden Which was approved by Congress last April with bipartisan approval. By midnight on January 19, the app may be removed from US-based app stores unless pulled from its parent company.

Supreme Court weighs TikTok ban on Friday; National security, freedom of expression arguments are taken into account

Tik Tok has it faced controversy over Being a China based company it is allegedly used as spyware for the Chinese Communist Party. Lawmakers on both sides of the aisle I have been warned The potential national security threat TikTok allegedly poses to US phones.

This week, “Mr. Terrific” Kevin O’Leary announced that he is teaming up with Project Liberty founder Frank McCourt to buy the platform’s US assets from its parent company, ByteDance, and “rebuild the platform in a way that… It prioritizes privacy From 170 million US users.

If their bid to acquire the social media platform is successful, O’Leary explained how they would change the platform to better align with American interests.

Besides giving users ownership of their data and removing “Chinese spyware,” the investor asserted that TikTok has the potential to grow from its current 170 million users to “well over 200 million” by regaining user trust.

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The investor also said how he will look to include countries like India, Switzerland, France, Canada and Germany on the platform after making these changes.

“This thing is going to be the biggest TV network in the world in a couple of years,” O’Leary said of TikTok’s growth potential.

FOX Business’ Kira Mautoni contributed to this report.