The app, which was set to be banned, now has a bit more time to find a home and address national security issues

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.

Here’s another bright idea from President Donald Trump. He just expressed openness to the idea of either Tesla CEO Elon Musk or Oracle Chairman Larry Ellison purchasing TikTok, a move that could have significant implications for the app’s future in the United States.

At a press briefing on Tuesday, President Trump suggested that he’s open to the idea of Elon Musk or Larry Ellison buying TikTok.

US President Donald Trump on Tuesday said he would be supportive of the world's richest man and his close aide, Elon Musk, buying TikTok "if he wanted to". Trump was asked if he would be open to the billionaire founder of Tesla buying the short-video platform facing a nationwide ban in the US after the Supreme Court last week upheld a law requiring TikTok to sever ties with its Chinese parent ByteDance.

In order to avoid a potential ban in the United States, Chinese officials are considering a contingency plan that would involve selling TikTok's US operations to Elon Musk, said a Bloomberg report. The report further said that the first preference of the Chinese officials will be to keep the short-form video hosting platform under the control of parent company ByteDance,

The future of TikTok remains in limbo with President Trump considering Tesla CEO Elon Musk or Oracle Chairman Larry Ellison as potential TikTok buyers.