In a significant development, discussions have emerged regarding the potential acquisition of TikTok by Elon Musk's platform, X. This move, reportedly backed by the Chinese government, could position Musk and President-elect Donald Trump as influential figures among young social media users.
The collaboration could help reverse X's declining user base and advertising revenue, while TikTok continues to expand rapidly with over 170 million users in the U.S.
Additionally, the initiative could facilitate data access for Musk's AI venture, xAI. Another contender for TikTok's U.S. assets is Project Liberty, led by entrepreneur Frank McCourt, which aims to restructure the app under American ownership with a focus on user security. McCourt's group has confirmed that a proposal has been submitted to ByteDance.
The ultimate fate of TikTok remains uncertain as it awaits a decision from the Supreme Court, which recently indicated a tendency to uphold existing regulations despite appeals from Trump and other lawmakers.