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Trump says Murdoch, Ellison, Dell lined up as investors in TikTok U.S. deal

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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:

  • Ownership structure: TikTok’s U.S. operations would be majority-owned by American investors, with ByteDance holding under 20% of shares.

  • Governance: The U.S. entity would be operated domestically by a board with national security and cybersecurity credentials.

  • Investors:

    • Lachlan Murdoch, CEO of Fox Corp, through Fox (not personally). Rupert Murdoch, 94, may also play a role.

    • Larry Ellison, Oracle co-founder and major Republican donor, has long been linked to TikTok negotiations.

    • Michael Dell, CEO of Dell Technologies.

  • 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:

  • The deal remains under scrutiny by Congress, with Democrats warning against giving Beijing influence or allowing Trump’s allies too much control.

  • Trump has delayed enforcement of the shutdown law until December, with a possible extension into April 2025 to finalize terms.

  • The deal is being folded into broader U.S.-China economic talks, reflecting Trump’s transactional approach.

  • 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.

Murdoch Family Faces Succession Battle Over Future of Media Empire

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The future of Rupert Murdoch’s vast media empire, including Fox News, is now in the hands of a probate commissioner in Reno, Nevada. At the heart of the dispute is whether the 93-year-old media mogul can amend the family trust to ensure that his chosen successor, Lachlan Murdoch, remains at the helm of the influential right-wing outlets for decades to come.

Murdoch, along with his eldest children, appeared in a secret trial to argue over control of the family trust, which was originally designed to give each of his four oldest children—Lachlan, James, Elisabeth, and Prudence—equal voting power over the company’s future after Rupert’s death. Murdoch now seeks to alter this arrangement to safeguard the conservative editorial stance of his media outlets, which include Fox News, The Wall Street Journal, and New York Post.

The other three siblings, however, are against the proposed change, fearing it would consolidate too much power in Lachlan’s hands. They believe this could affect the company’s future direction, particularly its editorial stance, which has been a source of immense profitability but also controversy. Rupert Murdoch worries that without Lachlan’s leadership, his other children might steer the outlets in a more moderate direction, potentially decreasing their value.

The probate commissioner’s decision is expected in the coming days or weeks, though the process could be prolonged if any party objects to the ruling. If objections arise, the case may proceed to a judge, with the potential for further delays and even an appeal to the Nevada Supreme Court.

The closed-door proceedings in Nevada have drawn criticism for their secrecy. Nevada law allows such cases involving family trusts to remain entirely private, with their details shielded from public view, including the very existence of the case on court dockets. A coalition of media organizations has petitioned the Nevada Supreme Court to unseal the case, arguing that the outcome will have far-reaching consequences on jobs, global media, and the American political landscape.