White House officials said earlier this week that Tiktok had signed a reserve agreement to sell its US business to a group of US-based investors.
Murdox, part of Ellison in the potential tiktok trade
President Donald Trump mentioned Murdox and Larry Ellison in an interview with Fox News, teased potential names in the proposed Tiktok deal.
WASHINGTON – President Donald Trump has signed an executive order to sell Tiktok’s US operations to a group of American investors and help him continue to operate popular video apps domestically.
“We’re a very refined American investors take over it, do it,” Trump said on September 25th, signing the order.
Vice President JD Vance, who helped Shepherd trade, said it protects American data security and is suitable for investors. The company will be valued at $14 billion, he said.
White House officials said earlier this week that Tiktok had reached a reserve contract to continue operating in the US.
The agreement, which the Trump administration has been working on for months, will drive Beijing-based Tiktok’s American operations into a new joint venture consisting of the majority of American ownership. Oracle, a US-based technology company, will serve as Tiktok’s security provider for its American operations.
Under the arrangement, Tiktok’s algorithm will move under the control of a new US joint venture. Oracle is responsible for inspecting and monitoring the algorithm to ensure that it is not being used for “malicious purposes,” officials said.
US authorities in multiple administrations have expressed concern that Tiktok poses a national security threat, claiming that Baytedan is sharing American user data with China. Tiktok repeatedly denied these claims.
Former President Joe Biden signed a law banning Tiktok in the United States in 2024, unless the Beijing-based parent company ordinance sells its US holdings. However, Trump extended the deadline for sales or vans three times in his second presidential term.
