The future of TikTok hangs in the balance this week as the Supreme Court of the United States (SCOTUS) prepares to issue a verdict on banning the platform.
For months, speculation has been rising about what will become of the popular content creation app that has launched many viral videos and created entire careers.Â
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However, as political tides shift in the U.S. and Donald Trump returns to the White House, the nation’s highest court is just days away from deciding whether TikTok will be banned in the U.S.
Despite the Chinese app’s popularity, both Democratic and Republican politicians have expressed concern that it could pose a national security threat due to its alleged predatory user data collecting.
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Recently, a rumor regarding Tesla (TSLA)  CEO Elon Musk and TikTok quickly spread across internet forums. However, as of now, it seems unlikely that it is anything more than pure speculation.
Elon Musk is keeping quiet about TikTok
For months, rumors have circulated that certain billionaires are purchasing TikTok from Chinese owner ByteDance in an attempt to prevent it from being banned in the U.S.Â
The list includes Shark Tank personality Kevin O’Leary, real estate tycoon Frank McCourt, and big tech leader Microsoft (MSFT) .
Yesterday, Bloomberg reported that Chinese officials were open to considering making a deal with Musk if the ban moves forward. The report stated, “Senior Chinese officials had already begun to debate contingency plans for TikTok as part of an expansive discussion on how to work with Donald Trump’s administration, one of which involves Musk.”
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However, despite considerable speculation recently, TikTok has made one thing extremely clear: it is not currently in talks with Musk to acquire the platform.
After he purchased X (formerly Twitter in 2022), it might have made sense to assume that Musk might consider a bid for TikTok. While he hasn’t issued any statements on the rumor, TikTok responded to Variety’s request for a comment, stating, “We can’t be expected to comment on pure fiction.”
That said, acquiring TikTok might make sense for Musk. X has struggled significantly to retain users and advertising clients since he purchased it in October 2022. A platform with TikTok’s reach could help him reach more users and help attract new advertisers.
Even with that in mind, experts don’t seem optimistic that such a deal will happen. O’Leary also expressed skepticism that Musk will buy the platform. “The regulators hate monopolies, and Trump’s not letting go of this golden bargaining chip,” he stated in a recent X post.
Additionally, it remains unclear how Musk could finance the TikTok acquisition if he were to pursue it. Purchasing Twitter, before it was X, in 2022 required significant financial maneuvering, including procuring loans from multiple people.
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He could potentially borrow against his massive stake in Tesla, which has become significantly more valuable since Trump’s victory in November. However, since he didn’t do that for the Twitter purchase, he may not want to explore it now.
The fate of TikTok in the U.S. under Trump
While the Supreme Court’s decision on TikTok can come at any time this week, it is unlikely that the ruling will be handed down before Sunday, January 19. On that date, the Chinese company indicated that U.S. users may try to open the app and find it unavailable.
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Trump has asked SCOTUS to suspend the ruling on the TikTok ban until after he takes office, and his legal team has made it clear that he opposes the ban. A lawsuit was filed with the Supreme Court on December 27. 2024, issued the following statement:
“President Trump opposes banning TikTok in the United States at this juncture, and seeks the ability to resolve the issues at hand through political means once he takes office. On September 4, 2024, President Trump posted on Truth Social, “FOR ALL THOSE THAT WANT TO SAVE TIK TOK IN AMERICA, VOTE TRUMP!”
That said, as Forbes reports, Trump’s options after taking office are limited. While he could simply “declare TikTok in compliance with the law,” the courts could easily challenge this, likely dragging the legal proceedings out even further.
Given Trump’s pro-TikTok stance and Musk’s close proximity to him, it could prompt accusations of illicit activity if he were to purchase it.Â
However, it’s also worth considering that Musk simply may not want to take responsibility for owning another social media company, particularly as the platform’s users are declining, and this trend is expected to continue in 2025.
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