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Beijing representatives have debunked rumors that it is considering selling the video-sharing platform TikTok to ‘Doge Father’ Elon Musk amid regulatory hurdles.
In a statement reported by the BBC, Chinese government officials insisted that they do not plan to hand over control of TikTok US to continue operations. The representative specifically branded the widespread rumor a “pure fiction.”
TikTok Not Pursuing Contingency Plans
For context, earlier, on Monday, Bloomberg reported that representatives of Beijing-based TikTok are evaluating the options required to keep the video-sharing platform running in the United States. One option, according to the report, is selling the widely used social media platform to Elon Musk.
Musk—fondly called DogeFather because of his soft spot for the meme coin alpha Dogecoin—emerged as an option, owing to his affluence and social media flair, as seen in his X (formerly Twitter) purchase in April 2022.
Meanwhile, the Chinese government maintains that it does not plan to relinquish control of ByteDance’s US TikTok subsidiary to continue operations. However, it awaits a Supreme Court ruling on January 19 on whether it will uphold an earlier mandate for ByteDance to either sell off the platform or face a ban in the United States.
Trump Wants to “Save” TikTok
The Bloomberg report alleged that the Chinese government considered Musk an option due to his bromance with incoming US President Donald Trump. The Tesla founder was pivotal in Trump’s reelection, sparking a massive upside for Dogecoin in November.
A part of the disclosed proposal to Musk would entail running TikTok alongside ByteDance. The officials seek to entice the Tesla CEO, who openly kicked against the TikTok ban, with metrics that the video-sharing platform’s over 170 million users will boost X’s population stats and attract more advertisements.
Meanwhile, Musk’s right-hand man, Trump, has teased the idea of truncating the TikTok ban. The pro-Bitcoin president mentioned he wants to save the platform, with reports stating he has made efforts to delay the Supreme Court’s January 19 decision till he assumes office.