Musk not buying TikTok
Posted: Jan 14, 2025
- TikTok denies reports of China exploring a sale of the app to Elon Musk
- Elon Musk has not commented on the report
- The sale would keep TikTok operational in America amid a looming U.S. government ban
- ByteDance, TikTok's parent company, has not indicated exploring a sale of its stake
- U.S. law prohibits TikTok unless ByteDance sells its ownership to a party outside designated "foreign adversary" countries
- President-elect Donald Trump requests the Supreme Court suspend the law to find a resolution
- Congress passed a law targeting TikTok due to concerns about Chinese ownership and national security
What do people on Reddit think?
🚨 Reddit sentiment: mixed/negative - The majority of the comments express skepticism and concerns about the feasibility and impact of Musk buying TikTok, with financial and logistical challenges highlighted. Summarized comments: - Commenters are skeptical of Bloomberg's reporting on Musk buying TikTok - Some believe China would not sell TikTok, no matter the offer - Musk buying TikTok seems unrealistic due to the high price and financial impracticalities - Historical context: Microsoft had a $56B bid for TikTok years ago, indicating the high valuation of the company - Speculation that Musk would need enormous financial backing, possibly from international sources like Saudi Arabia, to purchase TikTok - Concerns that Musk's acquisition would be financially damaging to Tesla's stock price due to required liquidation - Mixed opinions about the seriousness of TikTok sale rumors, with some viewing it as unlikely or unfounded Stock tickers discussed: $TSLA, $MSFT
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