Washington, D.C. - President Donald Trump expressed willingness for billionaire Elon Musk or Oracle Corp. Chairman Larry Ellison to acquire TikTok in a joint venture with the U.S. government.
At a White House event with Ellison, Trump stated, “I have the right to make a deal,” suggesting a potential arrangement where the buyer would share ownership with the United States. He emphasized the value of the app, stating, “You have an asset that has no value or has a trillion dollar value.”
Although TikTok's parent company, ByteDance Ltd., has resisted selling, the recent Supreme Court ruling and a brief service shutdown may influence their position.
Chinese officials have not commented on whether they would permit a U.S. stake in TikTok, but experts suggest a politically driven deal is unlikely.
In related developments, a group of American investors led by tech entrepreneur Jesse Tinsley, including popular content creator MrBeast, has announced a bid for the app. Additionally, billionaire Frank McCourt and investor Kevin O'Leary submitted a formal offer earlier this month.