US President Donald Trump has expressed his willingness to allow Elon Musk, owner of Tesla and X, to purchase TikTok.
The app was recently banned in the United States due to national security concerns surrounding its Chinese ownership.
The ban, which commenced on Sunday, temporarily disabled the app, leaving over 170 million US users without access.
As part of the ban, TikTok was also removed from Apple and Google’s app stores in compliance with federal regulations.
On his first day in office, Trump signed an order postponing the ban for 75 days, allowing TikTok to resume operations.
After signing the order, Trump suggested that the US should receive 50% of any proceeds from the potential sale of TikTok in a joint business arrangement.
“I have met with the major shareholders of TikTok,” Trump stated. “What I’m considering is telling someone to ‘buy it and give half to the United States of America.’”
He further cautioned China against meddling in the sale, describing any interference as “hostile” and threatening tariffs of up to 100%.
When asked at a press briefing if he would welcome Musk as a buyer, Trump replied affirmatively and also mentioned Larry Ellison, co-founder of Oracle, as another potential purchaser.
“I would welcome it if he (Musk) wanted to buy it. I’d also like Larry to buy it. I have the authority to make a deal. My vision is this: TikTok is worthless without a US permit. With a permit, it could be valued at a trillion dollars.
“So, I’m considering saying to someone, ‘buy it and give half to the United States of America, and we’ll grant you a permit. You’ll have an exceptional partner in the United States, making it even more valuable because you’ll have the ultimate ally in the US,’” Trump concluded.