Trump Approves TikTok Deal with Oracle, Murdoch, and Dell
president Donald Trump signed an executive order on Thursday afternoon, paving the way for a deal to bring TikTok under U.S. control, with several of his prominent billionaire allies poised to lead the effort.
“This will be American-operated all the way,” Trump stated during the signing, adding that Chinese President Xi Jinping had approved the agreement. “I have great respect for President Xi, and I very much appreciate that he approved the deal, because to get it done properly, we really needed the support of China and the approval of China.”
Who’s in the deal
While the ownership structure is still being finalized, Trump revealed that Oracle and its cofounder Larry Ellison will play a “big” role in managing the app, as Oracle already hosts much of TikTok’s U.S.-based data on its servers. Ellison has supported the president, raising millions for his campaign and advising him during the COVID-19 pandemic.
trump also stated that conservative media mogul Rupert Murdoch, the owner of fox Corp.-which operates Fox News-will be an investor, and computer billionaire Michael Dell will join the board. He indicated that three additional “blue-chip” backers are also involved, but did not announce their identities.