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China Considers Selling TikTok US Operations to Elon Musk: Bloomberg

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Chinese officials are reportedly exploring the possibility of selling TikTok’s U.S. operations to billionaire Elon Musk if the app cannot avoid a looming ban, Bloomberg News reported on Monday. This consideration comes amid increasing pressure from the U.S. government to address national security concerns surrounding TikTok’s Chinese ownership.

Beijing’s Preference and Control

According to sources cited in the Bloomberg report, Chinese officials prefer that TikTok remains under the ownership of its parent company, ByteDance. However, they are weighing alternatives as the January 19 deadline for divestiture or a ban draws near. These alternatives could involve either a competitive sale process or a government-arranged transaction, indicating that ByteDance may no longer have full control over TikTok’s future.

China holds a “golden share” in ByteDance, a stake that some U.S. lawmakers argue grants Beijing influence over TikTok. ByteDance, however, has previously denied that this ownership affects its global operations outside of China, including TikTok.

Potential Deal with Musk

One scenario reportedly under discussion would involve Musk’s social media platform, X, taking control of TikTok’s U.S. operations and running the business jointly. Despite these preliminary talks, there is no consensus among Chinese officials on how to proceed, Bloomberg noted. It is also unclear whether ByteDance, Musk, or TikTok have been directly involved in any discussions.

A TikTok spokesperson dismissed the Bloomberg report, stating, “We can’t be expected to comment on pure fiction.” ByteDance and Musk have not commented on the matter, and China’s Cyberspace Administration and Ministry of Commerce have yet to respond to inquiries.

U.S. Government Pressure

Last week, the U.S. Supreme Court appeared likely to uphold a law requiring ByteDance to sell TikTok’s U.S. operations or face a ban. The deadline for compliance is January 19, driven by concerns over potential national security risks posed by China’s influence on the app. The situation has placed TikTok’s future in the U.S. under intense scrutiny.

What’s Next?

While discussions remain speculative, the potential involvement of Elon Musk adds an intriguing layer to TikTok’s uncertain future. With the deadline looming, any developments—whether through a sale or a ban—are expected to have significant implications for the app’s 170 million U.S. users and the broader tech landscape.

 

EU Reassesses Tech Probes Into Apple, Google, and Meta Amid Regulatory Review

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The European Commission is reevaluating its ongoing investigations into tech giants Apple, Meta, and Google under the Digital Markets Act (DMA), according to a report by the Financial Times on Tuesday. The review comes as the implications of U.S. President-elect Trump’s upcoming presidency have reportedly added a new dimension to the regulatory scrutiny.

Sources cited by the Financial Times clarified that Trump’s election victory did not directly trigger the review but is being considered in its context. The ongoing reassessment could result in changes to the scope or intensity of investigations launched since March 2024 under the DMA, the EU’s stringent framework designed to curb market dominance by major tech platforms. This legislation allows for penalties of up to 10% of a company’s annual revenue for violations.

While technical work on the cases will proceed, decisions and potential fines have been paused until the review concludes. Regulators are said to be awaiting political guidance before making final determinations regarding the cases against Apple, Meta, and Google.

The DMA, which took effect in 2022, aims to ensure a level playing field for smaller competitors and to curtail monopolistic practices by Big Tech companies. However, the review’s outcome could reshape how the regulations are enforced.

Meanwhile, Meta recently announced it would discontinue its U.S. fact-checking program as part of a broader overhaul of its content moderation strategies, potentially signaling a shift in approach under CEO Mark Zuckerberg to align more closely with the incoming U.S. administration.

Additionally, Bloomberg News reported that the EU may expand its investigations to include allegations against Elon Musk’s social media platform, X, for potentially breaching EU content moderation rules.

Apple, Meta, Google, and the European Commission have not yet commented on the review or related developments.

 

Musk, Bezos, and Zuckerberg to Attend President-elect Trump’s Inauguration

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Tech moguls Elon Musk, Jeff Bezos, and Mark Zuckerberg are set to attend the inauguration of U.S. President-elect Donald Trump on Monday, according to a source familiar with the event’s planning. The CEOs of Tesla, Amazon, and Meta will have prominent seating alongside Trump’s Cabinet nominees and other officials during the swearing-in ceremony, NBC News reported.

Both Amazon and Meta have reportedly contributed $1 million each to support Trump’s inauguration. Elon Musk, CEO of Tesla, SpaceX, and X, played an even larger financial role, spending over $250 million to aid Trump’s election campaign in November. Representatives from Tesla, Amazon, and Meta did not immediately provide comments regarding the event or their executives’ participation.

Their attendance underscores the influence of major tech leaders in the political landscape, despite occasional public disagreements between Trump and some of the tech companies represented.