Finance

Donald Trump Proposes Radical TikTok Acquisition Plan with Elon Musk and Larry Ellison!

2025-01-24

Author: Siti

In a surprising twist in the ongoing saga of TikTok's uncertain future in the United States, former President Donald Trump has publicly voiced his support for tech mogul Elon Musk to potentially acquire the controversial app. Trump has suggested a groundbreaking proposal where the U.S. government would take a 50% ownership stake in TikTok's U.S. operations in exchange for the necessary operating permits. This proposal comes after Trump issued an executive order that temporarily suspended TikTok’s ban, reflecting a significant shift in his administration's approach to the platform.

During a White House press briefing, Trump stated, "I would be, if he wanted to buy it, yes," in response to inquiries about Musk's interest in the app. He further extended his endorsement to Oracle Chairman Larry Ellison, suggesting that both tech titans could play pivotal roles in the future of TikTok.

This unexpected announcement follows a dramatic week where the Supreme Court upheld a law that required ByteDance, TikTok's Chinese parent company, to divest its U.S. operations. Trump highlighted that, if structured correctly, TikTok could potentially be valued as high as $1 trillion, countering analysts who currently assess its U.S. operations at around $50 billion.

"What I'm thinking about saying to somebody is, buy it and give half to the United States of America," Trump elaborated. "And we’ll give you the permit." This bold suggestion reflects Trump's ongoing attempts to navigate the complexities of foreign ownership in tech companies operating on U.S. soil.

Moreover, in a notable shift from his 2020 stance when he sought to outright ban the app, Trump's softened approach signals a willingness to engage with major players in the tech industry. Reports indicate that this change in strategy may have been influenced by a meeting with prominent Republican donor Jeff Yass, who also has investments in ByteDance and Trump's own Truth Social platform.

On the global front, Chinese officials have showcased a degree of flexibility regarding this acquisition, with Foreign Ministry spokeswoman Mao Ning stressing that business operations should be driven by market principles. This opens the door for potential negotiations that could reshape the landscape of how TikTok operates in the U.S.

As talks progress, the platform's fate remains precarious. Apple and Google have continued to withhold TikTok from their app stores due to legal issues, although existing users can still access the app. In a notable moment, TikTok's CEO Shou Zi Chew attended Trump's inauguration alongside tech luminaries like Musk, Meta CEO Mark Zuckerberg, and Amazon founder Jeff Bezos, showcasing the intertwined connections between politics and the tech industry.

As these discussions move forward, many are left wondering: Is this the beginning of a new era for TikTok in America? Could Elon Musk or Larry Ellison be the key figures in saving the platform from dissolution? Only time will tell, but anticipation is certainly building!