NAIROBI, Kenya – The drama surrounding TikTok’s future continues to unfold, with U.S. President Donald Trump making waves this weekend by revealing that he is in talks with multiple parties to buy the popular app.
In a statement to reporters aboard Air Force One, Trump confirmed that a decision on TikTok’s fate could come in the next 30 days.
So, what’s in the works? Here’s a look at the potential deal and what it means for TikTok users, investors, and national security.
“With a permit it’s worth like a trillion dollars.” Pres. Trump said again Tuesday that TikTok is “worthless” if it’s not permitted to operate by the U.S. government. Trump said “somebody” should “buy it and give half to the United States of America.” abcnews.link/jS26RFG
Trump’s latest comments raise the stakes in the ongoing saga involving TikTok, the short-video platform that boasts 170 million American users.
While he didn’t confirm details about specific negotiations, the President revealed that software giant Oracle (ORCL.N) is heavily involved in talks to help “save” TikTok from being banned or sold due to national security concerns.
As part of a potential deal, Oracle would step in to oversee data collection and software updates for TikTok’s U.S. operations.
ByteDance, TikTok’s China-based owner, would still retain a stake in the app, but Oracle’s role would address Washington’s worries over Chinese government influence.
If finalized, this could be a win-win scenario, with Oracle managing the app’s infrastructure.
While discussions are fluid, Trump’s statements indicate that Oracle’s involvement in the deal is far from settled.
He stated, “Numerous people are talking to me, very substantial people, about buying it,” adding that he expects a decision within 30 days, with Congress giving him 90 days to act.
U.S. officials have long expressed concerns that ByteDance’s ownership of TikTok could lead to the Chinese government accessing sensitive data of American users.
Back in 2022, Oracle entered the scene by agreeing to store U.S. user data in an effort to alleviate these concerns.
With a looming deadline and pressure from Congress to address potential security risks, Trump has called for a solution that gives the U.S. more control over TikTok’s operations.
While Oracle’s stake could help mitigate national security fears, some hurdles remain, particularly appeasing lawmakers, many of whom are still wary about the app’s ties to China.
In the meantime, TikTok’s management, led by its CEO and other executives, would remain in place to run the app.
This means that while control over the app’s infrastructure might shift, its day-to-day operations could continue largely unchanged.
Apart from Oracle’s involvement, other key players are eager to get a piece of TikTok.
Billionaire Frank McCourt and YouTube star Mr. Beast, also known as Jimmy Donaldson, have been mentioned as potential suitors, but they’re not part of the current Oracle negotiations.
Meanwhile, the deal that Trump is eyeing has far-reaching implications. Oracle’s participation, alongside ByteDance’s American investors, could create a new ownership structure that shifts TikTok’s control while keeping it operational.
But with Trump pushing for a 50pc U.S. ownership stake in the app, the path forward is anything but clear.
