Trump open to Elon Musk or Larry Ellison buying TikTok
President Trump is making a major infrastructure announcement on his second day in office.
president Donald Trump On Tuesday, he reiterated his view that the US should own half of TikTok and said he would favor X owner Elon Musk or Oracle founder Larry Ellison buying the China-linked social media app.
During his first day in office on Monday, Trump issued an executive order Giving more time to TikTok work and work to comply with the law, which forces the platform’s Beijing-based owner, ByteDance, to either hand over the app to an American buyer or shut down the platform in the US.
It is true that Elon Musk is talking to President Donald Trump. (Photo by Brandon Bell/Getty Images/Getty Images)
Trump was asked during a press conference, announcing A massive Stargate AI infrastructure projectWith Oracle, OpenAI and Softbank, would he be open to buying Musk, his close ally, TikTok?
“I would be if he wanted to buy it, yes,” the president replied, adding: “I wish Larry would buy it too,” nodding to Alison who was in attendance.
BANK CEO SAYS TRUMP’S FISCAL POLICIES MAKE US ‘NO’ 1 PLACE TO REINVEST
Trump said he met with the current owners of TikTok and told the press: “I have the right to make a deal. So the deal I’m thinking of…” he then turned to Alison and said. “Larry, let’s negotiate.” In front of the media.
Oracle founder Larry Ellison, right, listens to a speech by President Donald Trump in the Roosevelt Room of the White House on January 21, 2025 in Washington, DC. (JIM WATSON/AFP via Getty Images/Getty Images)
The president said the deal he’s considering would involve someone buying TikTok “and giving half to the United States of America, and we’ll give you a license, and they’ll have a great partner.”
TRUMP EXPECTS 10% TARIFFS ON CHINESE IMPORTS IN FEBRUARY. 1:
After explaining the deal, Trump turned back to Ellison and said: “Sounds reasonable. What do you think?”
Alison replied. “Good deal for me, Mr. President.” Trump then returned to the press and said of Ellison: “He can afford it too.”
Shark Tank investor Kevin O’Leary talks about the future of TikTok, the role of the Chinese government with a “secret golden stake” and the role Trump can play in keeping the platform available in the US.
TikTok shut down its operations in the US on Saturday, a day before a statutory shutdown deadline. However, the platform restored US operations on Sunday after Trump assured he would sign an executive order extending a deadline to reach a deal protecting America’s national security.
CREATE A FOX BUSINESS WITH A QUICK CLICK HERE!
“By doing this, we’re saving TikTok, keeping it in good hands and letting it go [stay] up. Without the approval of the US, there is no TikTok. With our approval, it is worth hundreds of billions of dollars, maybe trillions,” Trump wrote in a post on the social network. “So my initial thought is a joint venture between the current owners and/or the new owners The US gets. 50% ownership in a joint venture established in the US and an acquisition that we choose.”
FOX Business’ Daniel Wallace contributed to this report.
English