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Chinese officials are reportedly considering selling TikTok’s US operations to Elon Musk if the platform cannot avoid an impending ban, Bloomberg News reports. Beijing, however, still prefers TikTok to remain under ByteDance’s ownership.
A sale could occur through a government-led arrangement or a competitive process, potentially stripping ByteDance of full control over TikTok’s US future. Analysts at Wedbush suggest this is one of several contingency plans ByteDance may pursue, with a January 19 deadline to sell or face a ban looming.
Elon Musk's strong ties with Beijing and former President Trump could facilitate this deal. Analysts highlight the Trump administration's potential role in exploring alternatives if the Supreme Court upholds the ban. ByteDance, however, is unlikely to include its prized algorithm in any sale, with analysts estimating the platform’s US operations could fetch $40-$50 billion.
For Musk, acquiring TikTok could boost the value of his Twitter/X platform. He may also seek external funding or consider a joint partnership to avoid a full acquisition. Analysts note that such a move might prevent a complete TikTok ban while strengthening US-China relations during critical trade negotiations.
TikTok's future faces heightened scrutiny, with the US Justice Department labeling the platform a national security threat over ByteDance’s potential access to US user data. Congress has mandated ByteDance secure a US-approved buyer by April 2024 or face a nationwide ban. This deadline aligns with President Trump’s inauguration on January 20, 2025, as he pushes the Supreme Court to delay enforcement.
Despite the pressure, Wedbush analysts argue ByteDance is unlikely to sell TikTok with its algorithm, significantly affecting the platform’s valuation and appeal to potential buyers like Musk.
