President Donald Trump has expressed willingness to allow tech moguls Elon Musk or Larry Ellison to acquire TikTok, but with a significant condition: the US must secure a 50% ownership stake in the company.
This development marks a shift in Trump’s stance on TikTok, which has been at the center of a heated debate over national security concerns. In August, Trump issued an executive order that would have forced TikTok’s parent company, ByteDance, to divest its ownership of the app. However, a subsequent 75-day extension has given the parties involved more time to negotiate a potential sale.
According to Trump, the US government would grant TikTok a permit to operate in the country in exchange for half ownership. This move would essentially give the US government a significant stake in the company’s decision-making process and operations.
The potential sale of TikTok has attracted interest from various investors, including YouTube star MrBeast, who has joined a consortium eyeing the acquisition. Oracle co-founder Larry Ellison is also considered a potential buyer, given Oracle’s existing partnership with TikTok to host its servers.
As the negotiations unfold, it remains to be seen whether a deal can be reached that meets Trump’s conditions and addresses the concerns of all parties involved.
