Trump Reveals Key Business Figures in TikTok Acquisition Plan

2025-09-22 04:32:13

(MENAFN) US President Donald Trump stated Sunday that a group of influential technology and media executives, including Oracle founder Larry Ellison, Dell Technologies CEO Michael Dell, and Fox Corporation leaders Rupert and Lachlan Murdoch, will participate in a consortium preparing to purchase TikTok’s American operations.

“You know, they’re very well-known people. And Larry Ellison is one of them. He’s involved. He’s a great guy. Michael Dell is involved. I hate to tell you this, but a man named Lachlan is involved,” Trump remarked on Fox News’ Sunday Briefing, noting that Rupert Murdoch “is probably going to be in the group.”

This initiative comes after legislation passed in April 2024 requiring TikTok’s Chinese parent company, ByteDance, to transfer roughly 80% of its US assets to American stakeholders or risk a countrywide prohibition.

White House press secretary Karoline Leavitt told Fox News that Oracle will supervise American data and security through a seven-member board, “six of whom will be American.”

Trump further mentioned that he had “a very productive call” with Chinese President Xi Jinping on Friday, indicating progress toward finalizing the agreement.

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