Could Oracle be about to take over TikTok? Trump reportedly backs plans for shock deal
Could Oracle be about to take over TikTok? Trump reportedly backs plans for shock deal
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Microsoft, Google, the US government itself and many more all thought to be involved in revived divestment deal. When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works. Oracle could be next in line to take over ownership of embattled social media giant TikTok from ByteDance, if new reports are to be believed.
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An NPR exclusive, fuelled by correspondence with “two people with direct knowledge of the talks”, claims that a murky deal involving the cloud storage titan is in the early stages; albeit complicated by President Trump’s own desires for the US itself to have a 50% equity stake in the company, and “a group of outside investors”, including Microsoft, also showing interest.
The new deliberations offer TikTok a stay of execution after it was supposed to have been banned in the US in the event of no plan for a sale to American buyers being in place (a process known as qualified divestiture), thanks to a law passed by Congress in April 2024.
Given the speculation, it’s no surprise President Trump reportedly refused to comment when asked about prospective talks supposedly held with Oracle chief Larry Ellison about the deal, meaning ultimately, we just don’t know all that much about the plan - yet.
One of NPR’s sources, however, did claim, at present, the deal would give the US direct oversight over TikTok as a platform, but that ByteDance ”wouldn’t completely go away”. Though the original deadline for a sale to occur before a ban was January 19, 2025, the newly-sitting President signed an executive order that provided a 75-day extension - despite the contention of legal scholars.
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