President Donald Trump (DJT) said on Fox News’ “Sunday Briefing” that Larry Ellison, Lachlan Murdoch, and Michael Dell will be involved in TikTok’s U.S. deal. He described them as “very well-known people” and said he believes they will “do a really good job” managing the short-form video platform in the U.S.
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Trump’s remarks came after discussions with Chinese President Xi Jinping, which he said were progressing toward finalizing the agreement. Under the proposed deal, TikTok would transfer at least 80% of the assets to U.S. owners, while Chinese parent ByteDance’s stake would fall below 20% to address national security concerns. The new U.S.-based company would reportedly have a seven-member board, six of whom would be American directors.
Who Are the Key Leaders in the TikTok Deal?
Ellison is co-founder of Oracle (ORCL) and has played a central role in negotiations. Oracle has hosted TikTok’s U.S. data since 2020, and Trump has long touted Ellison as a prime contender for the deal, since the two companies share a long history.
Meanwhile, Dell is the CEO of Dell Technologies (DELL), bringing his expertise in computer hardware and infrastructure.
Murdoch, the recently appointed CEO of Fox Corp. (FOX), also joins the group after a lengthy succession battle within the Murdoch family. Notably, media mogul and chairman emeritus of News Corp. and Fox Corp., Rupert Murdoch, could also be a part of the investor group.
Trump’s relationship with the Murdochs has been complex. In July, he filed a $10 billion defamation lawsuit against The Wall Street Journal, naming Rupert Murdoch as a defendant, after the paper linked Trump’s name to financier Jeffrey Epstein.
Why Does the TikTok Deal Matter?
TikTok boasts about 170 million American users and has become a powerful force in shaping political and cultural conversations. At the heart of the debate is TikTok’s recommendation software (algorithm), which directs videos to users according to their viewing preferences. To ensure national security, U.S. law requires that this crucial algorithm remain under American control.
With major business leaders involved and political pressure increasing, this deal could shape not only TikTok’s future in the U.S. but also the wider fight over technology and global power.
Which Is the Best Social Media Stock, According to Analysts?
We used the TipRanks Stock Comparison Tool for Social Media Stocks to determine which company is preferred by Wall Street.
Currently, analysts have a “Strong Buy” consensus rating on Spotify (SPOT), Pinterest (PINS), and Instagram-owner Meta Platforms (META), with PINS stock offering the highest upside potential.
