Chinese officials are exploring the possibility of Elon Musk acquiring TikTok's US operations if the platform cannot avert a ban, according to sources. Beijing strongly prefers ByteDance Ltd. to retain ownership and is challenging the impending ban in the US Supreme Court. The court's justices appear inclined to uphold the law. Musk's X, formerly Twitter, has been discussed as a potential buyer, and analysts estimate TikTok's US value as high as $50 billion. Beijing holds a strategic "golden share" in a ByteDance subsidiary, giving it leverage over any deal involving TikTok. Musk is still repaying loans from his $44 billion Twitter purchase in 2022.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Chinese officials are exploring the possibility of Elon Musk acquiring TikTok's
00:06U.S. operations if the platform cannot avert a ban, according to sources.
00:11Beijing strongly prefers ByteDance Limited to retain ownership and is challenging the
00:15impending ban in the U.S. Supreme Court. The court's justices appear inclined to uphold the
00:20law. Musk's ex, formerly Twitter, has been discussed as a potential buyer.
00:25Analysts estimate TikTok's U.S. value as high as $50 billion. Beijing holds a strategic golden
00:31share in a ByteDance subsidiary, giving it leverage over any deal involving TikTok.
00:37Musk is still repaying loans from his $44 billion Twitter purchase in 2022.