US President Donald Trump confirmed on Saturday that he is in discussions regarding the potential purchase of TikTok, with a decision expected within the next 30 days. Trump revealed that multiple parties are interested in acquiring the popular app, and negotiations are progressing, including talks with tech giant Oracle.
Reports indicate that the plan under discussion would allow Oracle to take control of TikTok’s US operations, while ByteDance, the app’s China-based owner, would retain a stake in the company. Oracle, which already provides some infrastructure for TikTok, would be tasked with handling data privacy and national security concerns.
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However, Trump clarified that he has not yet spoken directly with Oracle’s Larry Ellison about the deal. The specifics of the deal remain fluid, with potential involvement from other major investors and an aim to address both US operations and TikTok’s global reach.
As discussions continue, some observers point to the involvement of several US-based investors, including Sequoia Capital and General Atlantic, in the negotiations. The outcome of the talks will be crucial in determining whether TikTok can continue to operate in the US without facing a ban over national security concerns.
