Trump Discussing TikTok Sale, Decision Expected Within 30 Days
AFP
Washington: US President Donald Trump announced on Saturday that discussions regarding the future of TikTok are underway, with a decision expected within the next 30 days.
Speaking to reporters aboard Air Force One en route to Florida, Trump confirmed significant interest from various parties in acquiring the popular app.
“I have spoken to many people about TikTok, and there is great interest in it,” Trump stated, while denying reports of direct talks with Oracle co-founder Larry Ellison.
Oracle’s Role
According to sources cited by Reuters, the Trump administration is developing a plan involving software giant Oracle and a consortium of outside investors to take control of TikTok’s US operations.
Under the proposed terms, TikTok’s parent company, ByteDance, would retain a minority stake, while Oracle would oversee data collection and software updates to address national security concerns.
National Public Radio (NPR) reported on ongoing discussions regarding TikTok’s global operations, with Oracle expressing interest in a significant stake valued in the “tens of billions.”
Oracle, which previously partnered with TikTok in 2022 to store US user data, would continue to play a pivotal role in ensuring compliance with national security measures.
Alternative Bids
Sources indicate that ByteDance’s US investors, including Susquehanna International Group, General Atlantic, Kohlberg Kravis Roberts (KKR), and Sequoia Capital, may participate in the deal.
Other groups, such as one led by billionaire Frank McCourt and another involving YouTube personality Jimmy Donaldson, known as Mr. Beast, are reportedly not part of the Oracle discussions.
While the specifics of the negotiations remain fluid, TikTok’s management would continue overseeing the platform’s operations, which currently serve 170 million American users.
Addressing Security Concerns
TikTok temporarily went offline earlier this year due to a US law requiring ByteDance to either sell the app or face a ban on national security grounds. Trump previously signed an executive order extending the compliance deadline by 75 days.
The deal under negotiation aims to balance security concerns while keeping the app operational.
TikTok maintains that US officials have mischaracterized its ties to China, emphasizing that its recommendation engine and user data are stored on Oracle-operated US servers, with moderation decisions made domestically.
Free speech advocates have criticized the potential ban, highlighting concerns over its implications for open expression. The White House, however, considers gaining congressional approval a key hurdle in finalizing any agreement.
Trump’s Vision for TikTok Ownership
Trump reiterated his desire for the US to secure a 50 percent ownership stake in a joint venture involving TikTok, underscoring the administration’s focus on national security and economic interests.
Officials from Oracle and the White House are scheduled to meet again next week to further discuss the deal.
