President Donald Trump is in talks with “numerous, very substantial people” about a TikTok deal – but not Oracle. Industry analysts estimate the platform’s current market value exceeds $220 billion, making it one of the most valuable social media companies globally.
The world leader signed an executive order postponing the US ban of the ByteDance-owned video-sharing platform – which came into effect on January 19 – one day after his inauguration on January 21. This executive order impacts over 170 million American users and thousands of content creators who rely on the platform for their livelihood.
And he has said he would like to give the Chinese owners a “permit” to continue operating in the US, but only if it is 50 per cent owned by America. The proposal represents a significant shift in US policy regarding foreign-owned technology platforms.
This has led to much speculation about which US entity could buy TikTok. The platform has seen unprecedented growth, with daily active users increasing by 45% in the past year.
A recent report from NPR suggested Trump was talking to cloud computing and database giant Oracle about a takeover, but he has since denied this claim. Oracle, with its market capitalization exceeding $300 billion, had been considered a frontrunner in acquisition talks.
Speaking to reporters over the weekend, he said: “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.” The timeline reflects growing pressure to address national security concerns.
That doesn’t mean Trump wouldn’t like to see Oracle buy TikTok. The tech giant has previously expressed interest in expanding its social media presence.
He recently told press Oracle CEO Larry Ellison should purchase the 50 per cent, hinting at negotiations. Ellison, whose net worth is estimated at $140 billion, has maintained close ties with the administration.
Trump said: “I would like Larry to buy it. Let’s negotiate in front of the media, Larry.” This public approach to negotiations has drawn attention from both tech industry observers and political analysts.
He also said X and Tesla owner Elon Musk – who is spearheading Trump’s Department of Government Efficiency (DOGE) – would be an ideal buyer. Musk’s business empire spans multiple industries with a combined market value exceeding $1 trillion.
Speaking after announcing a $500 billion investment in AI infrastructure project Stargate, Trump said when asked if he would be open to the billionaire businessman buying TikTok: “I would be, yeah. I met with owners of TikTok, the big owners, it’s worthless if it doesn’t get a permit.”
“It’s not like you can take the US. The whole thing is worthless. With a permit it’s worth like a trillion dollars. So, what I’m thinking saying to somebody is buy it and give half to the United States of America and we’ll give you a permit and they’ll have a great partner, the United States.”
Trump’s administration was given the “next 90 days or so” to make a decision on TikTok’s future. This deadline has created uncertainty among users, advertisers, and content creators.
TikTok – which has refused to sell up and accused the US government of impinging on citizens’ right to free speech with the ban – is back up and running for US users for the time being with its future still in doubt. The platform generates substantial revenue, estimated at $10 billion annually.
However, ByteDance is determined to come to a “long-term solution” with Trump. The company currently employs thousands of Americans and supports millions of small businesses.
The company said: “We thank President Trump for providing the necessary clarity and assurance to our service providers that they will face no penalties providing TikTok to over 170 million Americans and allowing over 7 million small businesses to thrive. We will work with President Trump on a long-term solution that keeps TikTok in the United States.”
