Business World: Elon Musk Plans to Acquire TikTok, Trump’s Statement Indicates Major Acquisition Ahead

Business News: TikTok, a Chinese social media company, is still at the center of an ongoing issue in the United States. Recently, reports appeared indicating that Tesla CEO Elon Musk may explore acquiring TikTok. On January 20, when Donald Trump took office, he suspended the TikTok restriction for 75 days. Trump also stated that TikTok’s parent company had agreed to sell 50% of the app to the United States. In response to journalist inquiries about Elon Musk’s probable role in the purchase, Trump expressed his support, saying that Musk’s participation in such a transaction would be welcomed.

Donald Trump on TikTok Acquisition

Trump also stated that he talked with TikTok’s proprietors and underlined the app’s importance if allowed to operate in the United States, estimating it to be worth up to $1 trillion. He also stated that an American acquiring TikTok would result in a solid relationship, underlining the app’s importance with 170 million active U.S. users. Previously, TikTok’s parent company, ByteDance, faced pressure from the United States to sell the app. According to Bloomberg, Chinese officials have lately said that they do not want to sell TikTok.