ByteDance is reviewing businesses that haven't lived up to expectations as it tries to focus on the growth of its core social media and e-commerce businesses.
The meeting comes as several major advertisers have suspended spending on Musk's social media platform X after he seemed to endorse an anti-semitic tweet.
The revelations come after the CEOs of Meta, Snap and TikTok were called to testify before a Senate Judiciary hearing about online child sexual exploitation.