Elon Musk says he has no interest in TikTok acquisition amidst ongoing rumours

Elon Musk has clarified that he is not interested in purchasing TikTok, despite recent speculations and comments from former US President Donald Trump suggesting otherwise. The Tesla and SpaceX CEO dismissed any intentions to acquire the popular short-video app, which has been facing potential bans in the United States due to national security concerns.

During a conference hosted by Germany's WELT Group in late January, Musk stated, "I have not put in a bid for TikTok." He mentioned that he does not use the app and is not familiar with its format. Musk added, "I’m not chomping at the bit to acquire TikTok. I do not acquire companies in general, it’s quite rare." He noted that his $44 billion purchase of Twitter (now X) was an exception, as he typically prefers to build companies from scratch.

TikTok, owned by Chinese company ByteDance, has been under scrutiny in the U.S. due to concerns that the Chinese government could access American user data. ByteDance has consistently denied these claims. Earlier this year, ByteDance was given a deadline to either sell TikTok’s U.S. assets or face a nationwide ban. President Trump, who had previously attempted to ban the app during his first term, recently signed an executive order delaying the enforcement of the ban. He has also suggested that a newly created sovereign wealth fund could potentially buy TikTok.

Following the implementation of a US law restricting the platform, Apple and Google have not reinstated TikTok in their app stores. In response, TikTok has started allowing Android users in the US to download the app directly from its website. Trump has mentioned that he is in discussions with multiple parties regarding TikTok’s potential sale and expects to make a decision this month. The app has approximately 170 million American users, and Trump recently credited it with helping him win over young voters in the 2024 election. ByteDance has so far denied any plans to sell TikTok, and the company has not commented on the latest developments.