Elon Musk Declares No Interest in Bidding for TikTok
February 9, 2025 - 00:01
In a recent statement, Elon Musk clarified that he has no intentions of bidding for TikTok, the popular social media platform currently owned by the Chinese company ByteDance. Amid growing concerns regarding data privacy and national security, the U.S. government has mandated that ByteDance find a buyer for TikTok or face a potential ban in the country.
Musk emphasized his preference for building companies from the ground up rather than acquiring existing ones. This declaration comes as various tech giants and investors weigh their options regarding the future of TikTok in the U.S. market. The app has garnered millions of users, making it a significant player in the social media landscape, but its ties to China have raised red flags among lawmakers.
As the deadline for ByteDance approaches, the pressure mounts for the company to secure a buyer. Musk's comments highlight the challenges facing potential bidders, as they navigate the complexities of regulatory scrutiny and public sentiment surrounding the app.
MORE NEWS
November 7, 2025 - 05:58
US Treasury Launches Investigation into $9 Billion Small Business AidThe US Treasury Department has initiated an investigation into $9 billion related to `preference-based contracting,` which encompasses the distribution of funds by the Small Business Administration...
November 6, 2025 - 18:20
Local Sales Tax Collections Show Continued DeclineIn August 2025, local sales tax collections have continued to trend downward compared to last year, raising concerns among city officials and economic analysts. This decline in revenue is...
November 6, 2025 - 12:18
USDA Takes Legal Action in Response to SNAP Benefit CutsIn a recent court filing, the USDA confirmed its compliance with a previous court order regarding the Supplemental Nutrition Assistance Program (SNAP). The agency stated that it has accessed its...
November 5, 2025 - 20:44
Rhode Island's Business Climate: A Catalyst for GrowthPROVIDENCE, R.I., November 05, 2025—At the Greater Providence Chamber of Commerce (GPCC) Annual Meeting yesterday, Bruce Van Saun, Chairman and CEO of Citizens Financial Group, expressed a...