President Donald Trump recently expressed his support for either Tesla CEO Elon Musk or Oracle chairman Larry Ellison to acquire TikTok.
During a press conference, Trump indicated that a partnership involving either figure could be advantageous, especially in light of ongoing concerns about the Chinese ownership of the popular social media platform.
Trump Confirms Interest in Musk and Ellison for TikTok Joint Venture
This statement comes after Trump signed an executive order that extended the TikTok ban deadline by 75 days, allowing for further discussions on the app's future in the United States, TechCrunch said.
Despite temporarily going offline, TikTok has resumed its operations, but it remains unavailable in app stores.
Trump shared his belief that he can facilitate a deal where the US government would receive half of TikTok's ownership in exchange for permitting the app to operate within the country.
When asked about Musk's potential interest in buying TikTok, Trump confirmed his openness to the idea, complementing it with a desire for Ellison's involvement as well.
While Musk has not officially shown interest in purchasing TikTok, he has previously argued against a ban, citing free speech concerns.
TikTok's Future Hangs in the Balance as Supreme Court Upholds Sale Requirement
Other investors are also showing interest in acquiring TikTok. Kevin O'Leary, a well-known investor from "Shark Tank," and former Los Angeles Dodgers owner Frank McCourt are said to be considering a joint purchase.
According to Business Insider, social media star MrBeast remarked that he would buy TikTok to prevent it from being banned.
The future of TikTok remains uncertain as it is now navigating legal challenges. The US Supreme Court upheld a law requiring TikTok's parent company, ByteDance, to either sell the app or stop operations in the country.
Moreover, ByteDance has stated that it would prefer shutting down TikTok in the US rather than selling it.
Despite Trump's efforts, he faces opposition from some Republican senators who argue against extending TikTok's operational permissions.
Senators Tom Cotton and Pete Ricketts have expressed that there is no legal basis for this extension and emphasize the importance of safeguarding national security.
As discussions about TikTok's future unfold, the platform's millions of US users remain in suspense, awaiting clarity on how these potential changes may affect their access and engagement with the app.
