President Donald Trump expressed openness to Tesla CEO Elon Musk or Oracle Chairman Larry Ellison purchasing TikTok during a press conference held to announce a $500 billion artificial intelligence infrastructure investment.
Trump pitches TikTok to Musk and Ellison: Half to the U.S., half to you
Trump suggested a proposal in which the buyer would give half of TikTok’s value to the United States in exchange for a permit to operate.
“Larry, let’s negotiate in front of the media,” Trump remarked, highlighting a collaborative approach. Ellison responded positively to the idea, stating, “Sounds like a good deal to me, Mr. President.”
This discussion arises amidst TikTok’s uncertain status in the U.S., as Trump signed an executive order on Monday that stops enforcement of regulations aimed at banning the app for 75 days. This action follows a Supreme Court decision legitimizing a law that penalizes app stores and service providers hosting TikTok unless its Chinese parent company, ByteDance, sells the platform.
Analysts have valued TikTok’s U.S. operations at approximately $50 billion. Trump indicated that the app would be “worthless” without a U.S. permit but could be valued at $1 trillion with one. Musk and Ellison’s potential acquisition of TikTok reflects their close ties to the Trump administration, with Musk previously being a significant financial backer for Trump’s campaigns.
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MrBeast might be the name too
Other offers for TikTok have emerged, including a bid from YouTube creator MrBeast, also known as Jimmy Donaldson, whose investor group is reportedly being advised by the brother of Trump’s attorney general nominee. On January 13, Donaldson jokingly stated, “Okay fine, I’ll buy TikTok so it doesn’t get banned,” but his seriousness was confirmed by his lawyer.
The urgency for a sale is underscored by a looming 75-day deadline after Trump delayed the ban implementation. After the ban appeared imminent, TikTok briefly went offline but resumed operations following Trump’s announcement to enforce the delay.
MrBeast’s consortium aims to buy TikTok while maintaining operations to ensure continuity for its 170 million American users, according to statements from the investor group. They emphasize their offer as a solution that addresses national security concerns without disrupting TikTok’s service.
Additionally, discussions surrounding TikTok’s sale to a U.S.-based company have been ongoing since 2020, when Trump previously attempted to ban the app. With recent legal mandates tightening around ByteDance, the pressure is mounting as TikTok faced a temporary blackout before Trump’s executive order intervention.
Other potential bidders include a group led by billionaire Frank McCourt, which also involves prominent investors like Kevin O’Leary. McCourt’s team has refrained from stating the exact amount of their bid but indicated a valuation of TikTok’s assets at approximately $20 billion.
Featured image credit: Nik/Unsplash
