China is reportedly exploring the possibility of selling TikTok’s US operations to Elon Musk in a deal valued at up to €48.5bn.

The social media platform, which boasts over 2 billion users worldwide, is facing a potential ban in the United States over national security concerns.

According to Bloomberg News, discussions are underway about a scenario where Musk’s social media firm X, formerly known as Twitter, could acquire TikTok’s US arm from Chinese parent company ByteDance.

The report estimates TikTok’s US operations to be worth between €38bn and €48.5bn.

While Musk, the world’s richest person, has substantial resources, it remains uncertain how he would finance such a purchase or whether he might need to divest other assets to proceed.

TikTok has dismissed the report, stating it “cannot be expected to comment on pure fiction.”

The US government passed legislation last year requiring ByteDance to either sell TikTok or shut down its US operations.

This law is set to take effect on Sunday, a day before Donald Trump assumes office.

Washington claims that TikTok enables Beijing to collect user data, conduct surveillance, and disseminate propaganda.

Both ByteDance and the Chinese government have vehemently denied these allegations.

TikTok’s legal appeal to the US Supreme Court began last week.