Trump Says He’s Open to Elon Musk, Larry Ellison Buying TikTok
TikTok was temporarily taken offline for users across America over the weekend shortly before the federal divest-or-ban law took effect.
TikTok was temporarily taken offline for users across America over the weekend shortly before the federal divest-or-ban law took effect.
President Donald Trump said on Jan. 21 that he is open to the possibility of billionaire Tesla CEO Elon Musk or Oracle Chairman Larry Ellison purchasing the video-sharing app TikTok, telling reporters that he would like the platform to be partly owned by U.S. investors.
Trump made the comments during a White House press briefing when asked if he was open to Musk, co-leader of Trump’s newly created Department of Government Efficiency, buying the platform.
“I would be, if he wanted to buy it,” Trump told reporters. “I'd like Larry to buy it, too,” he said of Ellison, who was in attendance at the conference.
Trump added that he “has the right” to make a deal to ensure the popular social media platform—used by 170 million Americans—can continue running in the United States.
TikTok was temporarily taken offline for users across the United States over the weekend, shortly before the federal divest-or-ban law took effect.
The legislation was signed into law by then-President Joe Biden and required ByteDance, TikTok’s China-based parent company, to divest itself of TikTok in the United States by Jan. 19 on national security grounds or face a ban in one of its largest markets.
In the lead-up to the ban going into effect, Trump regularly praised TikTok, even though he had sought to ban the app in 2020.
After returning to office on Jan. 20, Trump signed an executive order putting enforcement of the law on hold for 75 days, thus granting his administration more time to negotiate a sale or an alternative solution to a full-scale ban on the video-sharing app.
The app has since returned online, although it remained unavailable for U.S. users of Google Play and Apple’s app store on Jan. 21.
TikTok’s U.S. business has been valued by analysts at around $40 billion to $50 billion; however, Trump told reporters during the press conference that the app would be “worthless” without a permit to operate in the United States. If TikTok’s parent company were to secure such a permit, the app could be worth around $1 trillion, Trump said.
“I have met with owners of TikTok, the big owners,” Trump told reporters on Jan. 21. “So what I am thinking about saying to somebody is, ‘Buy it and give half to the United States of America and we’ll give you the permit,' and they’ll have a great partner.”
Trump said that ByteDance would “have something that’s actually more valuable” because they will “have the ultimate partner,” and the United States “will make it very worthwhile for them in terms of the permits and everything else.”
TikTok has faced intense scrutiny in Washington amid concerns the Chinese Communist Party (CCP) may have access to user data. Officials have pointed to Beijing’s counterespionage law, which requires all entities in China, including ByteDance, to legally hand over user data if the CCP authorities request it.
ByteDance has repeatedly maintained that the Chinese regime cannot access user data and information and says it stores U.S. user data on servers outside of China.
The company and TikTok users challenged the divest-or-ban law, arguing that it infringes upon the First Amendment rights of TikTok and its users. However, the Supreme Court upheld the law last week.
ByteDance has not yet indicated whether it will sell TikTok, while the Chinese foreign ministry suggested this week that Beijing may not oppose such a deal.
Speaking to reporters on Jan. 20, spokeswoman Mao Ning said that private companies should be allowed to make their own decisions on their operations and acquisitions but noted that if such a deal involves Chinese companies, “China’s laws and regulations should be observed.”
The Epoch Times contacted spokespersons for Musk and Ellison for comment but did not receive a response by publication time.
Reuters contributed to this report.
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