Trump to decide TikTok's future in 30 days, discussing platform's sale with several parties

US President Donald Trump has announced that he is in discussions with multiple parties over the future of TikTok, with a decision expected in the next 30 days. Speaking on Saturday during a flight to Florida, Trump indicated that the talks revolve around potential buyers for the popular video-sharing app, which has come under scrutiny due to national security concerns. The timeline follows the US Congress granting 90 days to resolve the matter, and Trump has said that if a deal can be struck, saving TikTok would be a positive move.

The administration is reportedly working on a plan that involves Oracle, the US software giant, and a group of investors taking control of TikTok’s operations. ByteDance, TikTok’s China-based parent company, would retain a stake, but Oracle would oversee key elements like data collection and software updates. However, the deal’s specifics are still fluid, with some sources noting that the terms could evolve, potentially involving TikTok’s US operations and other global markets as well.

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Oracle’s role in the potential deal

Central to the discussions is Oracle, which has already been involved with TikTok in a limited capacity since 2022. The software company is expected to play a major role in addressing national security issues related to the app. By overseeing data storage and updates, Oracle would ensure that US users’ information is protected from any potential Chinese government interference. The company had previously entered into a deal with TikTok to store US data on its cloud servers, helping to alleviate Washington’s concerns about data privacy.

Although Trump has said he has not spoken directly to Oracle’s Larry Ellison about buying TikTok, sources suggest that Oracle could seek a stake worth tens of billions of dollars. The deal would also likely involve some of ByteDance’s US investors, including firms like Sequoia Capital, KKR, and General Atlantic. Despite Oracle’s central role, other parties, including investor groups led by billionaire Frank McCourt and YouTube star Mr. Beast, are not part of the ongoing talks with Oracle.

Legal and political obstacles

While negotiations are underway, the deal faces significant legal and political challenges. Trump’s proposed involvement of the US government in TikTok’s operations, particularly his desire for the US govt to hold a 50% stake in a joint venture, has raised concerns in Congress. Some lawmakers and free speech advocates argue against banning TikTok or forcing its sale, citing potential infringements on free expression and concerns over government overreach. The debate has already sparked discussions on whether TikTok’s US operations should be sold at all or banned outright.

Additionally, TikTok’s management is expected to remain in place, with the company continuing to operate the app while Oracle handles security matters. However, the 75-day delay signed by Trump gives more time for negotiators to reach an agreement, as the deadline for ByteDance to divest TikTok looms. With so much at stake, any decision on the app’s future will have significant political, legal, and business consequences.

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What’s next for TikTok?

As Trump moves towards a decision on TikTok’s future, the stakes remain high. The outcome will not only shape the app’s continued operation in the US but also influence broader conversations about data privacy and national security in the digital age. TikTok’s future hangs in the balance, and whether the negotiations lead to a deal or a ban will likely set a precedent for similar tech disputes between the US and China in the years to come.