U.S. President Donald Trump announced that he is currently in discussions with various parties regarding the future of TikTok, with a decision expected within 30 days. Speaking to reporters aboard Air Force One, Trump revealed that there is significant interest in purchasing the popular video-sharing app. While specific details are still emerging, the negotiations are reportedly centered on a deal that would involve Oracle, the American software company, and a group of external investors to take control of TikTok’s operations in the U.S.
The primary concern behind these discussions is national security, as U.S. officials have raised alarms over TikTok’s ownership by ByteDance, a Chinese company, fearing potential misuse of American users’ data. To address these concerns, Oracle could play a pivotal role, assuming control over TikTok’s data collection and software updates, while ByteDance would retain a stake in the company. This proposal builds on a 2022 agreement where Oracle became responsible for storing U.S. user data on its cloud servers, aiming to mitigate fears of Chinese government interference.
Despite these efforts to safeguard American interests, Trump has clarified that he is not negotiating directly with Oracle’s founder, Larry Ellison, though he did mention that various influential figures have expressed interest in acquiring TikTok. The deal being explored would involve participation from ByteDance’s U.S. investors, including Jeff Yass’s Susquehanna International Group, General Atlantic, KKR, and Sequoia Capital. However, Trump’s emphasis on potential buyers outside Oracle indicates that the negotiations are far from settled, with other investors, such as billionaire Frank McCourt and YouTube star Mr. Beast (Jimmy Donaldson), not being involved in the current talks.
At the core of the deal, Oracle would assume responsibility for addressing national security concerns related to TikTok’s operations in the U.S. Despite the ongoing discussions, TikTok’s management would remain intact, continuing to run the app. The deadline to finalize any deal looms large, as U.S. law mandates ByteDance either sell TikTok or face a potential ban on national security grounds.
The situation is compounded by the U.S. Congress, which has raised concerns about the proposed solution and could impact the viability of the deal. Free speech advocates have also voiced opposition to a potential ban on TikTok, viewing it as a government overreach. As the deadline approaches, the fate of TikTok in the U.S. hangs in the balance, with the resolution likely to have lasting implications for tech policy and foreign relations.
