After years of rejecting the idea of a sale of TikTok’s US assets to an American buyer in order to avert a ban, China and ByteDance may have found an owner they could live with: Elon Musk.

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.

Elon Musk has objected to a lack of reciprocity in the US-China tech relationship, a rare criticism from the billionaire on issues sensitive to Beijing after US president-elect Donald Trump prepared to offer a reprieve to TikTok on a ban in the US.

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

TikTok’s Chinese parent company has just over two months to find a buyer for the app’s US business or face a nationwide ban, after getting a time extension from President Donald Trump.  There is already competition to own it.