Elon Musk and Larry Ellison have emerged as potential buyers for TikTok, as former President Donald Trump expressed openness to their acquisition of the popular social media platform. This development follows Trump’s executive order signed on Monday, allowing TikTok to continue operating in the United States for 75 days while a resolution is sought. TikTok, owned by China’s ByteDance, faces uncertainty in the U.S. market, with Trump’s latest statements adding a new twist to its future.
Trump’s openness to Musk and Ellison stems from their previous support and business ties. Elon Musk, known for his roles as CEO of SpaceX and owner of the social media app X, was one of Trump’s top financial backers during his campaign. Meanwhile, Larry Ellison, Chairman of Oracle, has been a longtime supporter of the former president. Oracle currently provides TikTok’s cloud infrastructure in the U.S., making Ellison a logical contender in the potential acquisition.
Trump’s remarks highlight his interest in ensuring TikTok remains operational in the U.S. market, given its substantial user base and economic potential. He emphasized that TikTok would be “worthless” without a permit to operate in the U.S., but he also noted its potential to be worth $1 trillion with the necessary approval.
“What I’m thinking about saying to somebody is, buy it and give half to the United States of America,” – President Donald Trump
Despite these developments, ByteDance has not signaled any intention to sell TikTok. The Chinese government has reportedly considered a plan that involves Musk acquiring TikTok’s operations, although no formal steps have been taken. Analysts have valued TikTok’s U.S. business at about $50 billion, underscoring its significance in the digital landscape.
TikTok CEO Shou Chew’s attendance at Trump’s inauguration in Washington, D.C., adds another layer of complexity to the situation. Trump’s views on TikTok have evolved over time, with his initial 2020 executive order to ban the app being reconsidered after meetings with key Republican megadonors.
“I would be if he wanted to buy it, yes.” – President Donald Trump
What The Author Thinks
The potential acquisition of TikTok by prominent figures like Elon Musk and Larry Ellison, supported by Donald Trump, underscores the intertwined nature of politics, technology, and business. Such a move could reshape the digital and social media landscape significantly, leveraging both the economic potential of TikTok and the strategic interests of its American suitors. The implications of such high-profile negotiations will undoubtedly affect global tech dynamics, illustrating how deeply political considerations are embedded in the business strategies of leading tech companies.
Featured image credit: FMT
Follow us for more breaking news on DMR