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Elon Musk Declines Interest in Purchasing TikTok

/in /tarafından

Billionaire Elon Musk stated that he has no interest in acquiring TikTok, the popular short-video app that has faced scrutiny in the U.S. due to national security concerns over its Chinese parent company, ByteDance. His remarks were made in late January during a summit hosted by The WELT Group, part of Axel Springer SE, and were released online on Saturday.

Musk’s comments came shortly after U.S. President Donald Trump indicated he would be open to Musk purchasing TikTok. However, Musk emphasized that he has not made any bids for the platform and has no plans for managing TikTok if he were to acquire it. “I don’t use TikTok personally and I’m not familiar with its format,” Musk said, adding that acquiring companies is not his usual approach, as he typically prefers building businesses from the ground up.

This week, TikTok has attempted to bypass restrictions by enabling U.S. Android users to download the app via package kits from its website, as Apple and Google have yet to reinstate TikTok to their app stores following the implementation of a new U.S. law.

The U.S. government has raised concerns that TikTok could potentially share data with the Chinese government, prompting lawmakers to demand the app’s sale or face a ban. While TikTok has denied these allegations, its future remains uncertain.

President Trump, who has signed an executive order to potentially buy TikTok through a sovereign wealth fund, has shown a new interest in the app after previously attempting to block it. Despite past attempts to ban TikTok over security concerns, Trump has more recently expressed a positive view of the app, citing its influence on younger voters.

German Activists Sue X Over Lack of Election Influence Data

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Two activist groups have filed a lawsuit against Elon Musk’s social media platform X, accusing it of violating European law by refusing to provide necessary data to track disinformation ahead of Germany’s national election on February 23. The Society for Civil Rights (GFF) and Democracy Reporting International (DRI) claim that X is not offering systematic access to important information, such as the reach of posts, likes, and shares, which other platforms have made available for monitoring.

According to Michael Meyer-Resende of DRI, the groups have the right to access this data under the European Union’s Digital Services Act. Despite requests, X has not granted access to the data needed for tracking public debates on the platform.

The lawsuit comes amid heightened concerns over online disinformation ahead of elections in Europe, especially after the controversial presidential election in Romania in 2024, which was allegedly influenced by a Russian-driven social media campaign, though Moscow denied any involvement.

The situation is further complicated by Musk’s endorsement of Germany’s far-right political party, Alternative for Germany (AfD), and his continued influence over the platform. Since taking control of Twitter (now X), Musk has limited access to data for researchers, charging for what was previously free, raising concerns about transparency and potential misuse of the platform in democratic processes.

 

Morgan Stanley to Increase Sale of Loans Tied to Musk’s X Amid Strong Demand

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Morgan Stanley, leading a group of banks, is set to increase the sale of loans linked to Elon Musk’s social media platform X, following stronger-than-expected demand from investors, according to Bloomberg News on Tuesday. Initially, the banks had planned to sell around $3 billion in loans, but the revised target now stands at up to $5.5 billion, reflecting investor interest that exceeded expectations.

In November, reports indicated that Musk’s rising political influence and connections to former President Donald Trump played a role in improving prospects for the platform, which helped banks manage the debt sale without incurring heavy losses. Morgan Stanley, along with other financial institutions like Bank of America and Barclays, provided Musk with loans in 2022 to support his $44 billion acquisition of X, formerly known as Twitter.

Typically, banks sell such loans to investors shortly after a deal is finalized, but the process has been more challenging in the case of X. Despite this, the latest demand suggests a more favorable outcome for the banks involved.