Trump Plans Decision on TikTok's Future in the US Within a Month
In a recent announcement, US President Donald Trump indicated that he is actively working on a strategy to secure the future of TikTok in the United States, suggesting a resolution could be reached within the next 30 days. Speaking to journalists during a flight aboard Air Force One, Trump highlighted significant interest from American investors regarding the popular social media platform.
This development comes on the heels of a brief suspension of TikTok's operations in the US, which occurred after ByteDance, the company that owns the app, failed to meet a January 19 deadline requiring them to divest their American assets. This action was prompted by a ruling from the US Supreme Court that upheld a federal law asserting the need for ByteDance to sell its US operations due to national security concerns. Fortunately for users, TikTok was reinstated just hours later when Trump announced an executive order that would extend the compliance deadline by an additional 90 days, while also proposing plans for a US acquisition of a majority stake in the app.
Trump remarked on the potential of TikTok, stating, "If we can save TikTok, I think it would be a good thing."
As reported by Reuters, negotiations are underway that could allow ByteDance to retain a minority stake in TikTok, with US investors and software firms taking charge of data management and software updates. Among the companies under consideration for this role is Oracle, which has been hosting TikTok's US user data since 2022. However, Trump has refuted claims regarding Oracle's involvement in the negotiations. "No, not with Oracle. Numerous people are talking to me, very substantial people, about buying [TikTok], and I will make that decision probably over the next 30 days," he indicated.
Potential investors include tech giant Microsoft, with reports suggesting that discussions about the app's future in the US are set to take place next week. Neither Microsoft nor Oracle has commented on the ongoing negotiations.
Initially, Trump suggested a joint venture model for TikTok, proposing a 50/50 ownership arrangement between ByteDance and American investors. He previously highlighted the potential value of TikTok, stating that without the ability to operate in the US, the app would have little worth; however, with the right permissions, it could be valued at $1 trillion. Speculation has arisen regarding Elon Musk, the CEO of SpaceX and owner of the social media platform X, as a potential buyer. Other interested parties reportedly include YouTube sensation MrBeast and billionaire Frank McCourt, founder of Project Liberty, an internet advocacy group.
While ByteDance has yet to confirm whether it will comply with the sale of TikTok, reports suggest that the Chinese government is contemplating the proposal as a means to prevent the app from facing a complete ban in the US.