Elon Musk Dismisses Interest in Buying TikTok Amid U.S. Scrutiny

Billionaire Elon Musk has denied any interest in acquiring TikTok, despite U.S. concerns over its Chinese ownership. Speaking at a late January event hosted by Germany’s Axel Springer SE, Musk stated, “I have not put in a bid for TikTok” and added that he doesn’t use the app or have any plans for it.

His remarks followed U.S. President Donald Trump’s suggestion that Musk could buy TikTok. However, Musk emphasized that acquisitions are rare for him, noting that his purchase of Twitter, now rebranded as X, was an exception. “I usually build companies from scratch,” he said.

The U.S. has been pressuring ByteDance, TikTok’s parent company, to sell its U.S. assets or face a ban, citing national security risks. Lawmakers fear China could access American user data, a claim TikTok has repeatedly denied. ByteDance has insisted it has no plans to sell TikTok.

Amid the ongoing battle, Apple and Google have yet to reinstate TikTok on their app stores following new U.S. restrictions. In response, TikTok has enabled Android users to download the app via its website.

Trump, who previously sought to ban TikTok during his presidency, recently softened his stance, acknowledging the platform's influence among young voters. He confirmed discussions with potential buyers and expects a decision soon on the app’s future, with 170 million U.S. users hanging in the balance.

Additionally, Trump signed an executive order to establish a sovereign wealth fund, potentially positioning it to acquire TikTok. ByteDance and TikTok have yet to comment on the developments.

The situation remains fluid as lawmakers, tech giants, and investors closely monitor TikTok’s fate in the U.S.