ByteDance, TikTok’s parent company, is required to sell the app to a U.S.-based buyer or face a nationwide ban.

Could Elon Musk save TikTok in the US? China weighs option to sell the controversial TikTok social media app's US operations ahead of looming ban

Chinese officials are reportedly exploring a backup plan for TikTok after the Supreme Court appeared unlikely to save it from a US ban. With TikTok’s legal options nearly exhausted, multiple news outlets are reporting that China is considering an option it previously said it wouldn’t: letting ByteDance sell the app.

Chinese government officials are reportedly mulling selling TikTok's US operations to Elon Musk to avoid a complete ban in the country.

Buying TikTok would further solidify Musk's position as one of the most powerful men in the U.S. and the world.

Chinese officials reportedly want ByteDance Ltd. to remain the owners of TikTok but is in discussion on how to work with the Trump Administration.

Musk acquired X (then Twitter) in October 2022 after a highly publicized back and forth, in which he gave up on the acquisition midway but ultimately closed the deal, paying $44 billion for the platform. X's user base has been on a decline since the acquisition, and advertising revenues have plummeted.

Kevin O'Leary, also known as Mr. Wonderful, offered TikTok's owners $20 billion in cash to buy the social media platform.

For years, C.E.O.s have used the annual gathering at the World Economic Forum to emphasize commitments to D.E.I., E.S.G. and globalization. Now the politics have changed.

If you are an avid TikTok user – or a creator who relies on the platform for income – here’s what you need to know to prepare for its upcoming ban in the U.S.

Several parties have expressed interest in buying the platform, but ByteDance has repeatedly said it does not plan to sell. Experts have also noted the Chinese government is unlikely to approve a sale that includes TikTok's coveted algorithm.