Trump plans on deciding on TikTok’s US future in one month
Date
1/27/2025 6:36:40 AM
(MENAFN) US President Donald trump announced on Saturday that he is working on a plan to potentially save TikTok and expects to make a decision regarding its future in the US within the next 30 days. Speaking to reporters aboard Air Force One, Trump stated there is significant interest from US investors in the app.
This announcement follows a temporary shutdown of TikTok in the US after its parent company, ByteDance, missed a January 19 deadline to divest its American operations. The shutdown came after the US Supreme Court upheld a federal law requiring ByteDance to sell TikTok to a US company due to national security concerns. The app was restored shortly after Trump declared plans to issue an executive order that would extend the compliance deadline by 90 days and propose the acquisition of a majority stake in TikTok by a US entity.
Trump emphasized that there is strong interest in the app from various parties, noting that if a deal to save TikTok can be made, it would be beneficial. According to reports, the Trump administration is negotiating a deal in which ByteDance would retain a minority stake while US investors and software companies would manage TikTok’s data and software. Oracle, which has hosted TikTok’s US user data since 2022, is reportedly being considered for this role, though Trump denied Oracle’s involvement in the deal.
Potential buyers for TikTok include Microsoft and possibly Elon Musk, CEO of SpaceX and owner of social media platform X. Other parties interested in the app are YouTube creator MrBeast and billionaire Frank McCourt. ByteDance has not yet confirmed whether it will agree to sell TikTok, although reports suggest that the Chinese government is reviewing the proposal to prevent a potential ban of the app in the US.
MENAFN27012025000045015687ID1109132581
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.