Trump open to Musk or Ellison buying TikTok
The buyer must give 50% of the shares to the United States (Illustrative photo: Getty Images)
President Donald Trump announced that he is open to the idea of billionaires Elon Musk or Larry Ellison acquiring the social media platform TikTok in a joint venture with the US government. If the platform is not sold, it faces the threat of being blocked again, according to Bloomberg and CNN.
Trump proposed that the potential buyer transfer 50% of the shares to the US government, which would ensure the necessary approval and a reliable partner.
"I have the right to make a deal. So what I’m thinking about saying to somebody is buy it and give half to the United States of America, half, and we’ll give you the permit, and they’ll have a great partner," said the US president.
Earlier, Trump signed an executive order giving the Chinese company ByteDance, the owner of TikTok, 75 days to sell the American segment of its business due to national security concerns. If no deal is reached, TikTok may be banned in the US.
In recent days, the US president has repeatedly stated that he could consider the possibility of an American buyer purchasing half of the company and managing it as a joint venture with its current Chinese owner, ByteDance, on an equal basis.
The potential sale of TikTok to business figures like Musk or Ellison is seen as a way to keep the app operational in the US while ensuring the US government’s involvement in the platform's management. However, the details of such a joint venture and the extent of the US government's involvement in TikTok remain unclear.
"You have an asset that has no value or has a trillion dollar value. It all depends on whether or not the United States gives the permit," Trump added.
According to him, this deal would make TikTok more valuable, as the company would become a strategic partner of the US government, ensuring long-term profitability and success.
On January 19, the law passed by the US Congress, which bans TikTok on American soil, came into effect. By that time, ByteDance had not sold the platform, and as a result, the social network was removed from the App Store and Google Play starting the evening of January 18. Additionally, TikTok stopped working for those who had the app installed, and even using a VPN didn't bypass the ban.
However, with the arrival of Donald Trump, the social network resumed functioning. As mentioned above, the US president signed an executive order to that effect.
