Topline

The world’s richest person, Elon Musk, would likely face a price similar to what he paid for Twitter if a deal to buy TikTok’s American operations goes through, according to a prominent analyst who covers Musk – as China is reportedly considering allowing sales to Musk to avoid a comprehensive US ban.

Important facts

Main critic

A A TikTok spokesperson dismissed the idea of ​​a sale to Musk as “pure fiction” in a statement to multiple media outlets. Musk has yet to comment on the reports, which do not mention whether Musk has expressed interest in such an acquisition.

Important background

TikTok will be banned on Sunday unless ByteDance divests its US operations to an American company, although the Supreme Court will soon rule on an appeal against the ban and Trump – who has criticized the idea of ​​banning TikTok – may be in the will be able to extend the deadline by 90% days after his inauguration on Monday. About a third of Americans use TikTok, more than 21% who use X, according to a June survey by Pew Research. But concerns about TikTok’s China-based ownership — and whether the Chinese government could force the company to hand over user data — prompted lawmakers to pursue a ban if ByteDance doesn’t sell the platform. Billionaire Frank McCourt, the former owner of the Los Angeles Dodgers, is leading the Project Liberty bid for TikTok, while other American billionaires are closely involved in the high-stakes drama, including Jeff Yass, whose company Susquehanna International Group has a 15% stake owns ByteDance.

tangent

Musk’s electric vehicle maker Tesla, his largest company, does a significant portion of its business in China. About 23%, or $5.7 billion, of Tesla’s $25.2 billion in revenue last quarter came from China. Ives mentioned Musk’s “strong relationship” with the Chinese government as supporting his arguments against TikTok.

Forbes rating

According to our latest estimates, Musk’s net worth of $421 billion makes him more than $180 billion richer than any other person. Musk’s 12 percent stake in Tesla and 42 percent stake in his state-owned aerospace company SpaceX make up the bulk of his wealth.

Further reading

ForbesChina is reportedly eyeing Elon Musk as a potential TikTok buyer – here’s everything we knowFrom Antonio Pequeno IV