Sen. Rand Paul (R-Kentucky) joins “Maria Bartiromo's Wall Street” for a wide-ranging interview.
Rumors surfaced on Monday that China was trying to get the owner of Company X to buy TikTok, but a representative for Company X said it was “complete fiction.”
Bloomberg reported on Monday that Chinese authorities are considering options, including Musk's acquisition of TikTok's U.S. operations, ahead of banning the platform in the United States, “according to people familiar with the matter.”
The publication wrote that Chinese authorities want TikTok's parent company, ByteDance, to continue ownership of TikTok as it challenges the impending ban through an appeal to the U.S. Supreme Court. .
On Friday, the Supreme Court heard oral arguments over the future of TikTok.
'Make TikTok great again': Kevin O'Leary explains plan to save social media platform
WASHINGTON (Reuters) – A U.S. federal appeals court on Friday upheld a law requiring China-based ByteDance to sell popular U.S. short video app TikTok by early next year. Otherwise you will face a ban. (Reuters/Dado Ruvic/File photo/Reuters)
Lawyers for the Biden administration reiterated their argument Friday that TikTok's Chinese ownership poses a “significant” national security risk to U.S. users.
As of the conclusion of oral arguments, it remains unclear how the Supreme Court will proceed with the issue, but a ruling or order is expected before the ban goes into effect on January 19th.
Bloomberg reported that under a scenario considered by Chinese officials, Musk's company X would buy and run TikTok US. Doing so could give TikTok an asset as it seeks to attract advertisers, as it has more than 170 million users in the U.S. Also, Musk's artificial intelligence company xAI There is potential to benefit from the partnership. TikTok, the magazine reported.
Supreme Court seems skeptical of blocking US ban on TikTok: What you need to know
SpaceX and Tesla founder Elon Musk speaks at the America PAC Town Hall on October 26, 2024 in Lancaster, Pennsylvania. Mr. Musk has donated more than $75 million to the Americas PAC, which he co-founded with Silicon Valley venture capitalists and fellow tech companies. (Samuel Corum/Getty Images/Getty Images)
People familiar with the discussions insist the deliberations are preliminary and no decision has yet been made on how to proceed.
When asked about the controversy, TikTok told Fox Business that it “cannot be expected to comment on pure fiction.”
TikTok could be banned under the Protecting Americans from Regulatory Applications by Foreign Adversaries Act. Law signed by President Biden It passed Congress with bipartisan approval last April. Unless the app is sold by its parent company, it could be removed from U.S.-based app stores by midnight on January 19th.
U.S. President Joe Biden speaks at the National Conference of County Legislatures on Monday, February 12, 2024 in Washington, DC, USA. Biden's re-election campaign launched a TikTok account to reach young voters. (Chris Kleponis/CNP/Bloomberg via Getty Images/Getty Images)
TikTok is faced a controversy about The company is based in China and is said to be used as spyware software by the Chinese Communist Party. Congressmen on both sides of the aisle warned about Potential national security threat TikTok allegedly poses via U.S. cell phones.
This week, “Mr. Wonderful” Kevin O'Leary partnered with Project Liberty founder Frank McCourt to buy the platform's U.S. assets from parent company ByteDance and “rebuild the platform in the following ways: “We will build it,'' he announced. prioritize privacy Of 170 million US users. ”
O'Leary explained how he would change the social media platform to suit U.S. interests if the plan to acquire it was successful.
In addition to giving users ownership of their data and eliminating “Chinese spyware,” the investor believes that by restoring user trust, TikTok will grow from its current 170 million users to “200 million.” He emphasized that it has the potential to grow even further.
CLICK HERE TO GET THE FOX NEWS APP
The investor also talked about how he hopes to include countries such as India, Switzerland, France, Canada, and Germany on the platform once these changes are introduced.
“This will be the largest television network in the world within two years,” O'Leary said of TikTok's growth potential.
FOX Business' Kira Mortone contributed to this report.
