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President Donald Trump announced on Sunday that prominent business figures Lachlan Murdoch, Larry Ellison, and Michael Dell will serve as U.S. investors in an effort to ensure TikTok’s continued operation within the United States.
He mentioned that the U.S. and China have made progress on an agreement that involves transferring TikTok’s American assets from China’s ByteDance to U.S. ownership.
Lachlan Murdoch, CEO of Fox Corp, recently solidified long-term control of his family’s media empire, which includes Fox News and The Wall Street Journal, after resolving a lengthy legal dispute with his siblings. Trump indicated that Rupert Murdoch, the family patriarch who is 94 years old, might also be involved in the deal.
Larry Ellison, co-founder of Oracle and a significant Republican supporter, has long been associated with a potential TikTok deal. Michael Dell is the CEO of Dell Technologies.
During an interview on Fox News’ “The Sunday Briefing,” Trump praised the group, calling them influential and patriotic Americans. “I believe they will do an excellent job,” he said, noting TikTok’s role in boosting his support among young voters in the 2024 election.
The Biden administration has refrained from enforcing a U.S. law that requires TikTok to divest its U.S. assets, citing concerns that Chinese authorities could access American user data. Negotiations involving the popular social media platform, which boasts around 170 million U.S. users, have been incorporated into broader economic talks with China.
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