Elon Musk Dashes TikTok US Acquisition Rumors

Elon Musk, the CEO of SpaceX and Tesla, has clarified his stance on acquiring TikTok's US business, stating that he has no intention of doing so. In a remote video link participation at a German conference, Musk emphasized that he is not interested in acquiring the popular social video app, which has faced national security concerns from the US government due to its Chinese parent company, ByteDance Ltd.

Musk, who acquired Twitter in 2022 and renamed it X, stated that he usually creates companies from scratch and has no plans for what he would do if he owned TikTok. He also mentioned that he does not use the app himself. This statement comes after a Bloomberg report in January suggested that Chinese officials had evaluated the possibility of Musk acquiring TikTok's US business if the app could not avoid being banned by the US government.

In the reported scenario, Musk's X platform would take over TikTok's US business and jointly operate the platform. However, Musk's recent statement has put an end to these speculations, indicating that he has no plans to acquire the app. Instead, Musk has been focusing on his other ventures, including SpaceX's Starlink project and Tesla's electric vehicle production.