President Trump Pushes TikTok US Control Deal with Billionaire Investors Amidst Congressional Ban Threat
President Trump announced a deal for U.S. control of TikTok's American operations, involving billionaires like Rupert Murdoch, Michael Dell, and Larry Ellison, amidst congressional legislation for a ban.
Overview
Congress passed legislation in 2024 demanding TikTok's sale to American investors or a ban, citing significant national security concerns over data privacy and foreign influence.
President Trump announced that Lachlan and Rupert Murdoch are part of a group of US investors taking control of TikTok's operations in the US.
President Trump also mentioned Oracle founder Larry Ellison and Dell Technologies CEO Michael Dell as potential participants in the complex TikTok deal negotiations.
The proposed deal involves transferring TikTok's American assets to majority U.S. ownership, with the White House confirming U.S. control of the algorithm and Oracle managing data.
This deal progresses despite Congress passing legislation for a TikTok ban to start in January, with the Trump administration expressing confidence in an imminent agreement.
Analysis
Center-leaning sources cover the story neutrally, focusing on reporting factual developments and statements from key figures without editorializing. They present information directly, attributing details to specific sources like Trump, the White House, and Bloomberg, allowing readers to form their own conclusions about the potential TikTok deal and its investors.
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Center (6)
FAQ
The U.S. legislation was driven by concerns over TikTok's potential for user data collection and influence operations by the Chinese government, raising risks to data privacy and national security.
The proposed deal involves billionaires Rupert Murdoch, Lachlan Murdoch, Oracle founder Larry Ellison, and Dell Technologies CEO Michael Dell.
The White House confirmed that the U.S. will control TikTok's algorithm, and Oracle will manage TikTok data as part of the deal to transfer TikTok's American operations to majority U.S. ownership.
The TikTok ban or mandatory divestment takes effect on January 19, 2025, as per the Protecting Americans from Foreign Adversary Controlled Applications Act upheld by the U.S. Supreme Court.
TikTok has challenged the ban as unconstitutional and announced intentions to fight the legislation, including appealing to the U.S. Supreme Court, though the court ultimately upheld the law.
History
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