No, Meta has not bought TikTok, nor are there any credible plans for Meta (or Facebook, Instagram owner) to acquire it. TikTok remains owned by ByteDance, a Chinese company.
Rumors have mentioned possible buyers like Elon Musk, Frank McCourt, Kevin O’Leary, Steven Mnuchin, MrBeast, and AppLovin — but nothing involving Meta. Reddit users also confirm there's no Meta deal; such a huge purchase would trigger mandatory public disclosure and antitrust reviews.
In short, TikTok remains independent. Meta continues to compete through Instagram and Facebook Reels, not by buying TikTok.