Musk acquired X (then Twitter) in October 2022 after a highly publicized back and forth, in which he gave up on the acquisition midway but ultimately closed the deal, paying $44 billion for the platform. X's user base has been on a decline since the acquisition, and advertising revenues have plummeted.

Chinese government officials are reportedly mulling selling TikTok's US operations to Elon Musk to avoid a complete ban in the country.

The location suggests that Mr. Musk, who owns companies with billions of dollars in contracts with the federal government, will continue to have remarkable access to President-elect Donald J. Trump.