Elon Musk or Larry Ellison, who will buy TikTok? President Donald Trump responds

US President Donald Trump he would be open to tech billionaire Elon Musk – the owner of social media platform X – buying Chinese-owned app TikTok.

Published on: Jan 22, 2025, 07:00:07 IST

By HT News Desk

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US President Donald Trump on Tuesday said he was open to SpaceX CEO Elon Musk or Oracle Corporation chairman Larry Ellison purchasing half of social media platform TikTok, in a partnership with the government, reported Bloomberg.

President Donald Trump and Elon Musk (AP)

During an event with Ellison at the White House, Trump said, “I have the right to make a deal,” with regards to the potential sale of the video-sharing platform.

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He outlined a plan under which a private individual could buy the application and share half of it with the US government in exchange for a permit to operate in the country.

TikTok was temporarily suspended over the weekend for 14 hours due to the US Supreme Court upholding a law banning the app, however, in an executive order signed on his first day in office, Trump extended the deadline for a sale by 75 days.

Trump, on Tuesday, indicated that if the sale were to go through he might download TikTok, and stated that the app had helped his campaign for the presidency as well.

“I think I’ll get it right now. By the way, again we won the young vote. I think I won it through TikTok, so I have a warm spot in my heart for TikTok,” he said.

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The company that owns TikTok, ByteDance, has publicly refused to sell TikTok, though considering the Supreme Court ruling on the ban, and the number of users in America, they might reconsider.

“You have an asset that has no value or has a trillion dollar value,” Trump said. “It all depends on whether or not the United States gives the permit," Trump said.

Potential buyers

While Elon Musk and Larry Ellison were Trump's pick, several other American investors and billionaire entrepreneurs have queued up to buy TikTok as well.

MrBeast, one of YouTube's most followed content creators, is part of a group of investors assembled by Jesse Tinsley, founder of Employer.com, who announced a bid to buy TikTok on Tuesday.

Other interested parties include, former owner of the Los Angeles Dodgers, Frank McCourt, and “Shark Tank” investor Kevin O’Leary.

That prospect has potential bidders lining up. A group of American investors assembled by tech entrepreneur Jesse Tinsley that included MrBeast, the internet’s most-followed and highest-earning content creator, announced a bid earlier Tuesday.

Amazon has also been cited as a potential investor, reported Bloomberg.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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