Trump hints at TikTok deal within 30 days
A decision on TikTok’s ownership is anticipated within 30 days, with significant interest shown by potential investors.
Discussions surrounding TikTok’s ownership and future in the US are intensifying, with President Trump indicating a decision could come within 30 days. Speaking aboard Air Force One, he confirmed conversations with multiple parties interested in acquiring the app. Trump emphasised substantial interest in TikTok, which boasts 170 million American users.
The White House is reportedly pursuing a plan involving Oracle and external investors to address national security concerns. The proposal under consideration would allow ByteDance, TikTok’s China-based parent company, to retain a minority stake, while Oracle would oversee data management and software updates. These arrangements aim to allay fears of Chinese government interference.
Oracle’s involvement builds on its existing role in hosting TikTok’s US user data. However, Trump clarified he had not directly discussed the matter with Oracle’s Larry Ellison. Reports suggest ByteDance’s US investors, including Susquehanna International Group and Sequoia Capital, may also participate in the deal.
The situation remains fluid, with details of the potential agreement subject to change. While Trump has suggested US ownership in a joint venture, finalising a deal will require balancing Congressional scrutiny, national security considerations, and free speech concerns raised by TikTok’s advocates.
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