U.S. President Donald Trump said on Sunday that Lachlan Murdoch, Larry Ellison, and Michael Dell would be among the American investors involved in a proposed deal to keep TikTok operating in the United States.
The arrangement is part of ongoing negotiations to transfer TikTok’s U.S. assets away from China’s ByteDance to a U.S.-controlled entity. The app, with 170 million U.S. users, has been at the center of Washington’s national security concerns and a 2024 law requiring divestiture by January 2025.
Key details of the proposed deal:
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Ownership structure: TikTok’s U.S. operations would be majority-owned by American investors, with ByteDance holding under 20% of shares.
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Governance: The U.S. entity would be operated domestically by a board with national security and cybersecurity credentials.
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Investors:
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Lachlan Murdoch, CEO of Fox Corp, through Fox (not personally). Rupert Murdoch, 94, may also play a role.
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Larry Ellison, Oracle co-founder and major Republican donor, has long been linked to TikTok negotiations.
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Michael Dell, CEO of Dell Technologies.
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Data & algorithm safeguards: All U.S. user data will be stored on Oracle cloud infrastructure, with TikTok’s algorithm retrained and operated under U.S. supervision outside of ByteDance’s control.
Trump’s comments:
Trump praised the investors on Fox News’ The Sunday Briefing, calling them “American patriots” and saying, “I think they’re going to do a really good job.” He also credited TikTok with helping him build youth voter support during the 2024 election.
Political and economic context:
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The deal remains under scrutiny by Congress, with Democrats warning against giving Beijing influence or allowing Trump’s allies too much control.
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Trump has delayed enforcement of the shutdown law until December, with a possible extension into April 2025 to finalize terms.
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The deal is being folded into broader U.S.-China economic talks, reflecting Trump’s transactional approach.
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It follows other unusual Trump administration interventions in business, such as taking a 10% U.S. stake in Intel and approving Nvidia chip sales to China in exchange for a cut of sales.
Critics argue these maneuvers deviate from free-market norms, while Trump insists they strengthen U.S. leverage and protect national interests.