Trump Floats Unconventional Idea for TikTok’s Future
In a surprise move, President Donald Trump has suggested that tech moguls Elon Musk or Larry Ellison could purchase TikTok, the popular social media app owned by China’s ByteDance. This proposal comes as TikTok’s future in the US hangs in the balance, with the company facing a 75-day deadline to sell or risk being banned.
A Valuable Asset Up for Grabs
Analysts estimate TikTok’s US business to be worth around $50 billion. However, Trump believes that without a permit to operate in the US, the app would be “worthless.” On the other hand, with the necessary permits, he thinks it could be worth a staggering $1 trillion.
Musk and Ellison: Potential Suitors
Elon Musk, CEO of Tesla and SpaceX, as well as owner of social media app X, has been a key supporter of Trump’s administration. Meanwhile, Larry Ellison, Chairman of Oracle, has been a longtime Trump ally, and Oracle is already TikTok’s cloud infrastructure provider in the US.
A Unique Proposal
Trump’s idea is to have one of these tech giants purchase TikTok and then give half of the company to the US government. In return, the government would grant the necessary permits for the app to operate in the country. This unorthodox proposal has raised eyebrows, with many wondering if it’s a viable solution.
A Shift in Trump’s Stance
Trump’s views on TikTok have undergone a significant transformation since his first term. Initially, he sought to ban the app, but after meeting with billionaire Republican megadonor Jeff Yass, a major ByteDance investor, he began to speak more favorably of TikTok.
The Future of TikTok Remains Uncertain
While ByteDance has not indicated whether it will sell TikTok, the Chinese government has reportedly considered a plan involving Musk acquiring the operations. As the deadline looms, one thing is clear: the fate of TikTok in the US remains uncertain, and only time will tell what the future holds for this popular social media app.
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