Trump Announces U.S. Investors for TikTok Deal

Former President Donald Trump announced on Sunday that media mogul Lachlan Murdoch, along with business leaders Larry Ellison and Michael Dell, will participate as U.S. investors in a proposed deal to keep TikTok operational in the United States. The announcement follows reported progress between the U.S. and China on a plan requiring TikTok’s American assets to transfer to U.S. ownership from China’s ByteDance.

The proposed deal would make TikTok’s U.S. operations majority-owned by American investors, overseen by a board with national security and cybersecurity credentials. ByteDance, TikTok’s parent company, would retain less than 20% of the joint venture controlling U.S. operations. Currently, ByteDance shareholders include Susquehanna International Group, General Atlantic, and KKR.

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Trump praised the group in an interview on Fox News, calling them “prominent people” and “American patriots,” noting TikTok’s influence in mobilizing young voters during the 2024 presidential campaign. Lachlan Murdoch, CEO of Fox Corp, recently secured long-term control of the family media empire, which includes Fox News and the Wall Street Journal. Trump indicated that Rupert Murdoch, 94, may also participate indirectly.

Ellison, co-founder of Oracle and a major Republican donor, has been previously linked to potential TikTok investments, while Dell, CEO of Dell Technologies, has not commented publicly. Any Murdoch family investment would be made through Fox Corp rather than personal funds.

Trump’s administration has previously declined to enforce a 2024 law requiring TikTok to divest by January 2025 over concerns that U.S. user data could be accessed by the Chinese government. Negotiations over TikTok have been incorporated into broader U.S.-China economic discussions.

The Trump administration’s unusual business interventions include taking a 10% stake in Intel and allowing Nvidia to sell AI chips to China in exchange for a revenue share. While Trump maintains these actions protect U.S. interests, some business leaders and Republican lawmakers argue they deviate from traditional capitalist norms and may undermine U.S. economic competitiveness.

A White House official confirmed that the deal aims to safeguard TikTok’s U.S. users while maintaining operational oversight under American investors, emphasizing national security and data protection as core priorities.