President Donald Trump recently announced that prominent figures from the tech and media sectors will play significant roles in the planned acquisition of TikTok’s U.S. operations, specifically its algorithm. During an interview on Fox News’ “Sunday Briefing,” Trump identified Larry Ellison, CEO of Oracle, and Michael Dell, head of Dell Technologies, as key players in this endeavor. Additionally, Lachlan Murdoch, the CEO of Fox Corp., along with his father, Rupert Murdoch, are also expected to be involved in the consortium aiming to take over TikTok.
In his comments, Trump emphasized the significance of these well-known figures, stating, “You know, they’re very well-known people. And Larry Ellison is one of them. He’s involved. He’s a great guy. Michael Dell is involved. I hate to tell you this, but a man named Lachlan is involved.” The inclusion of the Murdochs could signal a strategic move for Fox Corp. to enhance its digital media portfolio, especially as it seeks to adapt to the changing landscape of media consumption amid declining revenues from traditional broadcast television.
Sources familiar with the negotiations indicate that Rupert and Lachlan Murdoch are not acting as individual investors but will be part of a broader consortium that could reshape the media landscape in the U.S. The shift in the group of investors marks a departure from earlier announcements made by the Trump administration, which had previously identified Oracle, Silver Lake, and Andreessen Horowitz as part of the investors’ consortium.
Adding to the complexity of the deal is a recent bill passed by Congress in April 2024, which mandates that TikTok must sell approximately 80% of its assets to American investors to continue its operations in the United States. The legislation ensures that TikTok will have a board composed of seven members, with at least six being American. White House Press Secretary Karoline Leavitt reiterated this and asserted that data management and privacy concerns will be addressed by Oracle, affirming its role as one of the key American investors in the deal.
Ellison’s involvement is particularly noteworthy, as his company began hosting TikTok’s U.S. data in 2020, indicating a long-standing relationship with the platform. Trump’s recent discussions with Chinese President Xi Jinping have reportedly been productive, hinting that progress is being made toward finalizing the acquisition of TikTok.
As negotiations continue, the involvement of tech and media stalwarts raises questions about how this acquisition will impact users, data privacy, and the competitive landscape of social media in the United States. The outcome of these talks will be closely monitored by stakeholders across various sectors as the digital space continues to evolve.
