Change of ownership
Trump would be open to TikTok purchase by Elon Musk
US President Donald Trump is open to Elon Musk buying TikTok - if the tech billionaire wanted to do so. "I would be if he wanted to buy it," Trump told reporters.
On his first day as US president, Trump issued a decree giving the video app more time before it is shut down in the US. A US law stipulates that the China-based TikTok owner ByteDance had to divest itself of TikTok by Sunday in order for the app to remain available in the US. Trump was convinced that he could negotiate a business agreement for the app by extending the deadline.
Trump wants 50 percent of TikTok in the hands of the USA
In his decree, Trump ordered the Department of Justice not to enforce the provisions of the law for 75 days. When signing the order, Trump also explained his plan for the USA to receive a 50 percent share in the app. This would be a reasonable price for TikTok to continue to have access to the US market. He could either broker a sale or ensure that the app closes down, Trump emphasized.
The law - which Trump must also abide by - was triggered by concerns that the Chinese government could use TikTok to gain access to US users' data and manipulate public opinion in the US. TikTok rejects this.
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