- Trump says TikTok deal “puts America first”
- Oracle will be responsible for data management in the US
- Larry Ellison, Michael Dell and Lachlan Murdoch could all be involved
President Trump has claimed he and Chinese President Xi Jinping had “approved the TikTok deal” following months of negotiations, with several heavyweight American investors would be at the forefront of the US-China deal.
Speaking with Fox News following Trump’s declaration, US Press Secretary Karoline Leavitt confirmed: “We are 100% confident that a deal is done… A deal that puts America first.”
Leavitt acknowledged the importance of the platform, noting the nation’s small businesses had benefitted from TikTok’s ecommerce opportunities, hence the importance that a deal be struck up.
America has reached a TikTok deal, finally
Although details of the deal remain under wraps as the two nations finalize details and sign agreements, Leavitt did confirm that Oracle will be responsible for the platform’s data in the US.
American investors are also said to be integral to the deal, with Trump indicating the likes of Oracle’s Larry Ellison and Dell’s Michael Dell could both be involved.
Trump also alluded to the potential involvement of Lachlan Murdoch, who has huge influence over much of the world’s media including Nova Entertainment, News Corp and Fox Corporation.
The deal ensures TikTok’s US entity will be majority US-owned, with six of the seven board seats held by US citizens. It would also comply with US laws requiring TikTok to be sold to a US buyer amid security concerns.
This comes after lawmakers and intelligence agencies worried that TikTok could allow the Chinese government to access US user data, and that China could influence what content Americans see via algorithmic manipulation. Leavitt confirmed the US would retain control over UT users’ algorithms.
The White House has not yet confirmed the closure of the deal, but we expect to hear details very soon.
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