Trump Says TikTok Deal Progressing, Allies Could Gain Control of U.S. Operations
WASHINGTON – Former President Donald Trump said Sunday that progress is being made on a deal that would shift TikTok’s U.S. operations from its Chinese parent company, ByteDance, into the hands of American investors.
The plan would give Trump-aligned figures in corporate America influence over the social media platform, which has 170 million U.S. users and plays a major role in shaping political and cultural conversations.
Speaking on Fox News’ The Sunday Briefing, Trump praised the group of potential investors, calling them “prominent people” and “American patriots.” He credited TikTok with helping him connect with younger voters during the 2024 election campaign.
Among those linked to the deal are Lachlan Murdoch, CEO of Fox Corp, and possibly his father, media mogul Rupert Murdoch. The elder Murdoch, now 94, recently solidified his family’s control of Fox News and the Wall Street Journal. Trump noted the Murdochs’ involvement, despite a strained relationship at times. He is currently suing Rupert Murdoch and the Wall Street Journal over a 2003 Epstein-related report the paper published, which Trump called defamatory.
Other names tied to the potential TikTok deal include Oracle co-founder Larry Ellison, a longtime Republican donor, and Michael Dell, CEO of Dell Technologies.
The move comes against the backdrop of U.S.-China tensions. A law passed under President Biden requires TikTok to divest from ByteDance over concerns that user data could be accessed by Beijing. The Trump administration has so far declined to enforce that measure, instead tying the issue into broader trade and economic talks with China.
Trump’s administration has also taken unusual steps in the business world, such as securing a 10% U.S. stake in Intel and striking a deal with Nvidia that allows the company to sell chips to China in exchange for a share of the revenue. Supporters say these moves protect American interests, but critics – including some Republicans – warn they represent a break from free-market norms and could damage U.S. competitiveness.
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