Musk has stated his reluctance to buy TikTok

The head of the US Department of Government Efficiency (DOGE) and billionaire Ilon Musk said that he has no plans to acquire the social network TikTok. He said this on Saturday, February 8, at a conference in Germany.

"I have not applied to buy TikTok. I have no plans as to what I would do if I had TikTok," he said. The recording of the speech was published by Welt Documentary on its YouTube channel.

This was Musk's response to Bloomberg's information that Chinese officials are evaluating the possibility of selling TikTok's U.S. operating assets to him.

At the same time, Musk noted that he could study TikTok's algorithm and opportunities to improve it. But he added that he is "not acquiring anything just for economic reasons."

Musk also said that he himself is not a user of the platform.

Earlier, on February 4, US President Donald Trump created a US wealth fund for the possible purchase of social network TikTok. Details on exactly how the fund would work and be financed are not yet available, but the newspaper reported that Trump suggested it could be financed through tariffs.

On Jan. 25, Trump said he was in talks with several people about buying TikTok and would likely make a decision on the popular app's future within the next 30 days. Meanwhile, shortly before that, NPR radio reported that the White House was in talks to have Oracle and investors take control of TikTok.

Before that, on January 21, Trump signed an executive order to delay the blocking of the social network TikTok in the country for 75 days. It is specified that the postponement of the blocking will allow the new administration to determine the "appropriate course of action" in relation to the social network.

NBC News reported on January 19 that TikTok became inaccessible to U.S. residents. It was specified that the social network disappeared from the App Store and Google Play app stores.

Later that day, Trump published in Truth Social an appeal to keep the application available and said he would issue an executive order freezing in fulfillment of the law banning TikTok on the day of his inauguration. The politician specified that the decree could include the sale of 50% of the company to a new owner. At the same time, the video platform restored service to US users and expressed gratitude to Trump for expressing his desire to make TikTok available.

On April 24, 2024, then-acting U.S. President Joe Biden signed legislation to ban the social network. Senators in Congress then approved the measure by an overwhelming majority because they believed that the Chinese government could secretly spy on US citizens through the app.