🗞️ Is Musk Buying TikTok?

January 14, 2025

January 14th, 2025

Good Evening 🇺🇸,

What happened today,

China considers selling TikTok U.S. operations to Musk, Bloomberg reports

The Chinese government is considering a plan for Elon Musk to acquire TikTok's U.S. business, Bloomberg News reported Monday.

www.cnbc.com/2025/01/13/china-considers-selling-tiktok-us-operations-to-musk-bloomberg-.html

  • Bloomberg first reported that Chinese officials are discussing the possibility of selling TikTok to Elon Musk if the company is unable to stop the U.S. ban, other reports have said the Musk potentially buying TikTok rumors are false… we will see what happens as the January 19th deadline for TikTok looms

  • President Biden has announced a one-time payment of $770 to victims of the California wildfires

  • Trump said today that he wants to create the External Revenue Service to collect tariffs, duties, and other revenue that comes in from foreign sources

  • Elon Musk, Mark Zuckerberg, Jeff Bezos, Bill Clinton, George Bush, and Barack Obama will all be attending Trump’s inauguration

  • The damage and economic loss estimates in the L.A. wildfires have been raised to $250-$275 billion, per AccuWeather, this now looks like it will be the most expensive natural disaster in U.S. history

  • December PPI inflation came in at 3.3%, below expectations of 3.5%, a smaller increase than expected, but PPI inflation is now at its highest since February 2023

  • JP Morgan Chase COO, Daniel Pinto, will step down in June, the new COO will be long time employee Jennifer Piepszak

  • Capital One is being sued by the U.S. government’s Consumer Financial Protection Bureau for “cheating millions of consumers” and not paying more than $2 billion in interest to holders of its high-interest savings accounts

  • DOW up .52%/ S&P up .11%

  • Electric vehicles are expected to outsell cars with internal combustion engines in China for the first time in 2025, 10 years earlier than expected per FT

  • Kate Middleton, the Princess of Wales, had announced that her cancer is in remission

  • Hamas has accepted a draft agreement for a ceasefire in the Gaza Strip and the release of dozens of hostages, if all goes well the deal should be finalized this week and the 15 months of war will come to an end

Plus: A look at where Gen Z get their financial advice

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Have a great night!

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