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.

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

TikTok rejected a report Monday that the Chinese government is mulling a proposal to sell the company’s U.S. operations to billionaire Elon Musk to keep the app from being banned in America. Bloomberg first reported the idea was just one option on the table as the U.