TikTok sale: Trump proposes deal with US government owning 50%
What's the story
US President Donald Trump has voiced his support for a possible TikTok acquisition by either Elon Musk or Larry Ellison.
Trump also said the buyer could "give half to the United States of America" in exchange for a permit, calling the US "a great partner."
The statement came during a press conference announcing Stargate, a $500 billion investment in artificial intelligence infrastructure. The project involves contributions from OpenAI, SoftBank, and Oracle.
Positive response
Ellison responds to Trump's proposal
Ellison, the co-founder of Oracle, was quick to welcome Trump's proposal saying, "Sounds like a good deal to me, Mr. President."
However, it is still not clear how such an arrangement would work or how the US could legally run a speech platform without violating the First Amendment.
Either way, this marks an early sign of Silicon Valley's growing rapport with Trump's administration.
Executive action
Trump's executive order gives TikTok temporary relief from US ban
On Monday, Trump signed an executive order directing the Justice Department to pause the enforcement of a TikTok ban for 75 days.
This order aims to provide temporary relief for the app, which faced a prohibition due to national security concerns surrounding its Chinese ownership by ByteDance.
The executive order allows time for the administration to explore potential solutions that would secure national interests while keeping TikTok operational for its 170 million American users.
Acquisition interest
Other potential buyers for TikTok
ByteDance, TikTok's Chinese parent, has also received other offers, including one from billionaire Frank McCourt's Project Liberty.
YouTube creator MrBeast is also reportedly interested in acquiring the platform.
His investor group is being advised legally by a team that includes the brother of Trump's attorney general nominee.
Platform appreciation
Trump's personal view on TikTok
When asked if he has TikTok on his phone, Trump said, "No, but I think I might put it there."
He also credited the platform for helping him connect with young voters during the 2024 elections.
"So, I like TikTok," he said. This marks a change in his attitude toward the popular social media app.