Recently, the latest figure being suggested as a potential savior of TikTok in the U.S. is none other than Elon Musk, the head of Tesla and SpaceX.

The potential for a TikTok ban in the U.S. could become reality on Sunday, January 19, unless the app’s parent company, ByteDance, makes a sale of its American operations.

In April, President Joe Biden approved legislation requiring a sale or a ban on TikTok, citing national security concerns. The Supreme Court, which recently heard ByteDance’s challenge to the legislation, seems poised to uphold the ban due to worries about user data potentially being handed over to the Chinese government and concerns regarding content manipulation.

While some lawmakers suggest delaying the ban, former President Donald Trump has vowed to “rescue” TikTok, urging the Supreme Court to postpone its implementation to give him more time for a political solution once he assumes office.

According to Reuters, if Biden sees ByteDance making significant progress in divestiture, he could extend the deadline by 90 days. This brings us back to Musk, as reports from The Wall Street Journal and Bloomberg indicate that Chinese officials have contemplated Musk investing in or taking over TikTok’s U.S. operations to avoid a ban.

Here’s what we know.

Elon Musk Taking Charge of TikTok? Here’s Why It Could Work

Musk, being one of the wealthiest individuals globally, also runs X, the platform formerly called Twitter, and has contributed over $250 million toward Trump’s re-election effort. It’s feasible that Trump would support Musk in addressing the TikTok situation since he has already appointed Musk and entrepreneur Vivek Ramaswamy to an initiative focused on government efficiency and reducing expenses.

Musk’s name came up in conversations among Chinese officials regarding a potential TikTok ban, as well as larger dialogues on collaborating with the Trump administration. Musk is known for his positive interactions with Chinese officials and his favorable views towards the nation’s leaders, as mentioned by The Wall Street Journal. A TikTok spokesperson responded to inquiries about the Musk rumors by stating: “We cannot be expected to comment on pure fiction.”

Musk and Chinese President Xi Jinping reportedly have a good rapport, so having Musk manage TikTok’s U.S. operations is “likely one of many paths that ByteDance is considering as the Supreme Court case nears its conclusion and the January 19 deadline approaches,” according to Dan Ives, managing director at Wedbush Securities. He added, “In light of the developing relationship between Trump and Musk, it’s not too surprising considering behind-the-scenes maneuvering if the Supreme Court backs the ban.”

Potential Candidates to Lead TikTok in the U.S.

Musk is merely the latest figure speculated to be involved in a possible TikTok deal to avoid a U.S. ban. Here are other potential candidates being discussed:

Frank McCourt and Kevin O’Leary

Frank McCourt, a billionaire and former owner of the Los Angeles Dodgers, initiated Project Liberty in 2021, aimed at decentralizing the internet. He has made a formal bid to buy TikTok’s U.S. operations, although the details of the offer remain undisclosed. He is joined in this endeavor by Kevin O’Leary, co-host of the ABC show “Shark Tank.”

O’Leary, who also chairs O’Leary Ventures, a capital investment firm, and Beanstox, an investment service, has stated his and McCourt’s commitment to eliminate any spying algorithms and compensate users who agree to share their data with TikTok.

MrBeast aka James Donaldson

Popular YouTube star James “Jimmy” Donaldson, more famously known as MrBeast and the host of “Beast Games,” boasts over 337 million subscribers on YouTube and earns around $84 million a year, according to Forbes.

He recently tweeted on X, “Okay fine, I’ll buy TikTok so it doesn’t get banned.” The seriousness of his comment is yet to be determined.

Later, he added to the thread: “Unironically I’ve had so many billionaires reach out to me since I tweeted this, let’s see if we can pull this off.”

Bobby Kotick

Bobby Kotick, the former CEO of Activision, has expressed interest in a TikTok acquisition and is believed to have spoken with ByteDance founder Zhang Yiming, as reported by The Wall Street Journal.

Doug McMillon

Walmart’s CEO has previously had his eye on TikTok. During 2020, when Trump aimed for a TikTok ban, Walmart and Microsoft proposed a bid to purchase the app’s U.S. division. Walmart also attempted a joint bid with Oracle to take over TikTok’s U.S. operations, but the deal fell through after ByteDance secured an injunction against Trump’s ban.

Furthermore, it was reported in 2023 that McMillon hosted the ByteDance founder at his Arkansas headquarters.

Microsoft

As a major global tech entity, Microsoft is positioned to consider acquiring TikTok, potentially without Walmart’s involvement this time around.

Journalist Chris Morris noted that if Microsoft decides to pursue TikTok again, it could help enhance the company’s presence in social media, although it might draw scrutiny from federal regulators. Interestingly, Trump did not oppose such a buyout attempt during his first presidency when he advocated for a TikTok sale.

Finding a solution to retain TikTok’s operations in the U.S. remains a priority, according to Wedbush Securities’ Ives.

Ives concluded, “The stakes go beyond TikTok’s future, reflecting the broader high-tension dynamics between the U.S. and China, particularly as significant tariff negotiations loom for the Trump administration in the coming months.”

Contributing: Greta Cross, Jessica Guynn, Bart Jansen, Eric Lagatta and Reuters.

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