China-owned ByteDance, TikTok's parent company, would prefer to keep ownership of the platform but is reportedly open to Musk acquiring it and integrating it with X, formerly known as Twitter, as part of a contingency plan, according to the Bloomberg report, which cites unnamed people familiar with the matter.

The app’s availability in the U.S. has been thrown into jeopardy over data privacy and national security concerns.

Could Elon Musk save TikTok in the US? China weighs option to sell the controversial TikTok social media app's US operations ahead of looming ban

Elon Musk announced Sunday that he is sending Tesla Cybertrucks to Los Angeles after fires have torn through the region.