Elon Musk has finally addressed rumours that he's in the process of purchasing Chinese-owned app TikTok.
The world's richest man has broken his silence on whether he's interested in buying TikTok, with Elon Musk speaking out about the short-form video platform. Musk already has a technological empire that includes Tesla, SpaceX, and X (formerly Twitter), so adding TikTok to his portfolio wouldn't be completely out of the ordinary.
Of course, TikTok has been in the news a lot after the US government attempted to ban it.
Due to TikTok's ownership under China's ByteDance, lawmakers shared their concerns about Chinese spying and temporarily banned the popular app. President Donald Trump swooped in and signed an executive order giving TikTok a stay of execution, although it still has to find new owners for its US operations.
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Musk was originally rumored to be interested in buying TikTok, while YouTuber Jimmy "MrBeast" Donaldson was also said to have placed a serious bid.
As reported by Reuters, Musk has said he's not interested in buying TikTok, instead preferring to start companies from scratch. Ironic as he didn't actually found Tesla.
The comments were released by The WELT Group, a part of the German media company Axel Springer SE, with Musk speaking at a summit. The tech billionaire reiterated: "I have not put in a bid for TikTok,. I don't have any plans for what I would do if I had TikTok."
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It comes after Trump said he'd be open to Musk buying ByteDance, although the latter says he doesn't personally use TikTok. Musk added: "I'm not chomping at the bit to acquire TikTok, I do not acquire companies in general, it's quite rare."
Despite having purchased Twitter in October 2022, he concluded, "I usually build companies from scratch."
Unlike Trump's sometimes strained relationship with China, Musk is on good terms with the country. He has praised China on multiple occasions and even has a Tesla factory in Shanghai.
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The TikTok troubles continue, with scalpers selling phones with it installed for ridiculous sums. While TikTok can now be accessed in the USA, the Apple and Google app stores haven't reinstated it.
TikTok confirmed that it's trying to circumvent restrictions, with Android users able to download and connect through package kits available on its website.
Users are warned that they could be breaking the law by accessing TikTok, and while Trump has extended the deadline, it looks like ByteDance will still have to sell.
Trump has said he's in talks with 'multiple' people about a potential TikTok sale, but it seems that Musk isn't one of those interested parties. It's unclear what the future holds for TikTok, with ByteDance previously saying it wouldn't sell.
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Mr. Musk might be off the board, but with Trump also suggesting that Oracle's Larry Ellison is a potential TikTok savior, another tech billionaire could be the app's white knight.