Trump Open to Elon Musk or Larry Ellison Buying TikTok

Potential U.S. Ownership of TikTok Explored

Former President Donald Trump indicated a willingness to consider proposals involving Elon Musk, CEO of Tesla, and Larry Ellison, chairman of Oracle, in the potential acquisition of TikTok.

Trump's Statements on Potential Buyers

During a press conference held on Tuesday, President Trump was directly questioned regarding his openness to a purchase of TikTok by Elon Musk. He affirmed his approval of such a scenario.

Furthermore, Trump expressed his desire for Larry Ellison to also participate in acquiring the platform, suggesting a joint venture possibility.

Executive Order and Current Status

On Monday, an executive order was signed by Trump, extending the deadline for a potential TikTok ban by 75 days.

The Department of Justice was also instructed to refrain from enforcing the penalties associated with the ban at this time.

Despite the app’s continued operation, it remains unavailable for download from major app stores.

Proposed Arrangement with the U.S. Government

A potential solution being considered involves the U.S. government granting TikTok a permit to continue operating within the country.

This permit would be contingent upon the government receiving a 50% stake in the company.

Trump's Authority and Proposed Deal Structure

President Trump asserted his authority to negotiate and finalize such an arrangement.

His proposed deal structure involves a buyer – potentially Musk or Ellison – acquiring TikTok and transferring half of its ownership to the United States in exchange for regulatory approval.

“I have the right to make a deal,” Trump stated, outlining the core concept of the proposed agreement.