Elon Musk: In US President Donald Trump’s long list of commitments, there is also TikTok, a thorn in the side of the country that has lasted for years. It was the Trump administration, during his first term as occupant of the White House, that started the American battle with ByteDance. Years later, and after the ban imposed during the final period of Joe Biden’s presidency, TikTok is back in vogue as a priority to be resolved.
Trump’s idea is to force the Chinese company to sell its shares in the popular app, which is active in the USA, to an American owner so that it can more easily manage the processes of collecting and processing user data. After all, the fight began because the United States is convinced that TikTok is close to the Chinese Communist Party, providing them with sensitive data on the approximately 170 million American citizens who use the app. An accusation that ByteDance has always denied.
Trump’s plan
Trump’s first move was to give TikTok 75 days to find a buyer. Easy to say, much more complex to do. Because there are many influential names in the tech world, who want to get their hands on the ByteDance app. With one significant exception, that of the most popular personality of the moment, who rejected the proposal to acquire TikTok.
‘I have not made any offers for TikTok, and I have no plans to build a version of it, even if I bought it,’ said Elon Musk. He added important details about the entrepreneurial vision behind his choices. ‘I don’t usually buy existing companies, it’s very rare, because I build them from scratch,’ said the richest man in the world, alluding to the particular case of Twitter, acquired for $44 billion and then transformed into X.
It should be noted that Trump’s less ferocious attitude towards TikTok is due to the role the app played during the last US presidential election campaign. While in the past, the president had repeatedly aired the possibility of wanting to shut down the app, now the intention is to find a new owner because TikTok is a valuable tool for talking to and engaging young voters.
For this reason, in recent weeks, Trump has said he expects a bidding war to take control of TikTok. A useful scenario to snatch the best proposal, safeguarding the management of the data of his fellow citizens who use the app.
Many big names want TikTok
It is not surprising, then, that even unlikely hypotheses have suddenly gained ground to unravel the situation. One of the most improbable would see MrBeast at the head of a consortium of investors ready to offer $20 billion. Alongside the popular YouTuber, whose real name is Jimmy Donaldson, are David Baszucki, CEO of Roblox, and Nathan McCauley, co-founder of Anchorage Digital.
Another group interested in purchasing TikTok is Project Liberty, an initiative led by Frank McCourt, former owner of the Los Angeles Dodgers (a Major Baseball League team) and Kevin O’Leary, a well-known face in the USA as the star of the TV programme Shark Tank.
TikTok & Elon Musk
More highly rated, in the eyes of Trump, who supports it, is the possibility of Perplexity AI, which aims to add the app to its search engine based on generative artificial intelligence. The startup‘s proposal involves the creation of a holding company and the launch of a $300 billion IPO with the US government. More than an acquisition, therefore, it would be a merger agreement financed by the government that would have 50% ownership of the company but no seat on the Board of Directors. The plan appealed to the president, who unveiled the project by posting on Truth that the United States could end up becoming the owner of TikTok.
From what is filtering out of Washington, the issue remains delicate, as it is not easy to understand who will be able to impose themselves on the others. Because the group of buyers includes big companies such as Microsoft and Oracle, as well as Saudi prince Alwaleed Bin Talal, who, although he is starting from a lower base than the others, has significant cards to play in terms of commercial agreements with Trump, this is a decisive aspect, because the final word on the future of TikTok lies with the head of the United States.
