WASHINGTON, Jan 25, 2025 – US President Donald Trump announced on Saturday that he is in discussions with multiple parties regarding the purchase of TikTok and expects to make a decision on the app’s future within the next 30 days.
“I have spoken to many people about TikTok and there is great interest in TikTok,” Trump told reporters on Air Force One during a flight to Florida.
Earlier in the day, Reuters reported that the Trump administration is working on a plan to save TikTok, involving software company Oracle and a group of outside investors to take control of the app’s operations. Under the proposed deal, TikTok’s China-based owner, ByteDance, would retain a minority stake, while Oracle would oversee the app’s algorithm, data collection, and software updates.
However, Trump clarified that he had not spoken to Oracle’s Larry Ellison about buying the app. “No, not with Oracle. Numerous people are talking to me, very substantial people, about buying it and I will make that decision probably over the next 30 days. Congress has given 90 days. If we can save TikTok, I think it would be a good thing,” he said.
The terms of any potential deal with Oracle are fluid and likely to change, with the full scope of discussions not yet set. National Public Radio (NPR) reported that the deal talks for TikTok’s global operations are ongoing, with Oracle having no immediate comment.
The deal being negotiated anticipates participation from ByteDance’s current US investors, including Susquehanna International Group, General Atlantic, Kohlberg Kravis Roberts (KKR), and Sequoia Capital. Other potential buyers, such as the investor group led by billionaire Frank McCourt and YouTube star Mr. Beast, are not part of the Oracle negotiation.
Under the terms of the deal, Oracle would address national security issues, with TikTok’s management remaining in place to operate the app. TikTok was temporarily taken offline for US users shortly before a law requiring its sale by ByteDance on national security grounds took effect on January 19.
Trump signed an executive order delaying the enforcement of the law by 75 days, allowing time for a potential deal to be reached. Officials from Oracle and the White House held a meeting on January 24 about the potential deal, with another meeting scheduled for next week.
Trump has expressed a desire for the US to have a 50 percent ownership position in a joint venture with TikTok. Free speech advocates have opposed TikTok’s ban under a law passed by Congress and signed by former President Joe Biden. The company argues that its content recommendation engine and user data are stored in the US on cloud servers operated by Oracle, with content moderation decisions made in the US.