U.S. President Donald Trump said on Tuesday he was open to billionaire Elon Musk buying social media app TikTok if the Tesla CEO wanted to do so.

President Donald Trump said Tuesday he is open to Elon Musk buying TikTok, and floated a proposal that the United States jointly own half the company. “I would be, if he wanted to buy it, yes,” Trump told reporters at a White House event announcing a new AI infrastructure private sector partnership with tech leaders,

Tesla ( NASDAQ:TSLA) is up 103% in the past year, and the vast majority of those gains — about 70% — have been since Trump won the 2024 election. Investors now see Elon Musk as a heavyweight in policy decisions and many now even call him the co-president. TSLA stock now trades at $424 with a $1.33 trillion valuation.

Shares of Tesla Inc. slumped Tuesday alongside other electric-vehicle makers, while space company stocks saw big gains, after President Donald Trump announced a series of policies that could have wide-ranging impacts on markets.

Stargate is supposed to spend $500 billion on AI infrastructure, President Trump said. But Elon Musk suggested that the venture had much less cash.

Musk's planes spent approximately 881 hours in the air in 2024. After the election, the majority of the trips had one destination: Palm Beach, Florida.

Elon Musk unveils the groundbreaking Tesla Bot at Tesla AI Day! Discover how this humanoid robot is set to revolutionize the future with cutting-edge AI technology and Tesla's innovative design.