Tech billionaire states that he has never placed a bid and has no intention of acquiring the famous video platform.
Elon Musk, CEO of Tesla and SpaceX, affirmed that he has no plans to buy TikTok during an online meeting at the WELT Economic Conference on January 28. This statement dismisses the speculation that Musk might participate in a deal to acquire the app, especially as TikTok faces the threat of being banned in the United States.

What does Elon Musk say about TikTok? How much is TikTok worth?

As one of the richest people in the world, Musk is often seen as an investor capable of buying TikTok. Previously, in 2022, he completed a $44‑billion deal to acquire Twitter (now known as X), citing the desire to protect free speech in the United States.

However, Musk stated that the Twitter deal was a special case and that he does not have a habit of buying companies solely for profit. “I don’t buy companies just for economic reasons. I also haven’t seen a specific purpose for owning TikTok beyond the economic aspect,” Musk said.

He also questioned whether the principle of protecting free speech—the reason behind his purchase of Twitter—could be applied to TikTok.

According to analysis by Wedbush Securities, the value of TikTok in the U.S.—excluding its core algorithm—is estimated to range between $40 and $50 billion.

However, most of TikTok’s value lies in its content recommendation algorithm, a key element that helps the platform attract and retain users. Valuing TikTok without this algorithm would be very difficult.

Musk also acknowledged that if an investor wanted to buy TikTok, the first step would be to evaluate the app’s algorithm to assess its impact on users. He said: “If I examine the algorithm, I will decide whether it is beneficial or harmful.”

Tesla and SpaceX declined to comment on Musk’s remarks.

In a video released by the WELT Group on February 3, Elon Musk affirmed: “I have never placed a bid to buy TikTok and I have no plans whatsoever to own it.”

TikTok, an app owned by the Chinese company ByteDance, has about 170 million monthly users in the U.S. According to the initial plan, the app was scheduled to be banned on January 20 due to national security concerns. However, former President Donald Trump extended the deadline by an additional 75 days, giving TikTok the opportunity to find a non-Chinese investor to meet the conditions set forth in the bill signed by former President Joe Biden in April last year.

Nonetheless, ByteDance has declared that it has no intention of selling TikTok, despite several investors publicly expressing interest in the deal.

In addition to the rumors about Elon Musk, several other famous billionaires have shown interest in TikTok. The renowned YouTuber MrBeast (real name Jimmy Donaldson) once posted on social media in January that he wanted to buy the app.

Furthermore, Kevin O’Leary—the star of “Shark Tank”—and Frank McCourt—the former owner of the Los Angeles Dodgers baseball team—are also among the group of billionaires interested in acquiring TikTok.

However, no formal agreement has been reached, and ByteDance continues to maintain its stance of not selling the app.