US President Donald Trump announced on Sunday that a group of high-profile American business leaders, including Fox Corp chief executive Lachlan Murdoch, Oracle co-founder Larry Ellison, and Dell Technologies CEO Michael Dell, would be part of a proposed deal to secure TikTok’s future in the United States.
The plan involves shifting TikTok’s American operations away from Chinese ownership under ByteDance, with US investors expected to take majority control. According to reports, the new structure would see the app run by a board with expertise in cybersecurity and national security.
A White House official cited by Reuters said ByteDance would retain less than 20 per cent of the new joint venture that would oversee TikTok’s US operations. Current shareholders such as Susquehanna International Group, General Atlantic, and KKR are also linked to the company.
Trump Praises ‘American Patriots’
Speaking on Fox News’ The Sunday Briefing, Trump described the potential investor group as “prominent people” and “American patriots.” He added, “I think they’re going to do a really good job,” highlighting TikTok’s role in helping him connect with younger voters during the 2024 presidential campaign.
Trump suggested that Rupert Murdoch, the 94-year-old patriarch of the Murdoch family, might also be involved in the deal. However, sources told Reuters that any investment would be made through Fox Corp, not as personal stakes by family members or through News Corp.
Political and Business Stakes in Play
The negotiations over TikTok come amid broader US-China economic talks. Trump has resisted enforcing a 2024 law passed under the Biden administration that required TikTok’s divestiture by early 2025 due to security concerns about Chinese access to American user data.
Ellison’s name has surfaced repeatedly in connection with earlier discussions around TikTok, reflecting his position as both a Republican donor and technology industry heavyweight. Dell has not publicly commented on the matter.
Trump’s Unusual Business Interventions
The TikTok talks are the latest example of Trump’s direct involvement in corporate affairs. His administration has previously taken a 10 percent stake in Intel and allowed Nvidia to sell advanced chips to China in exchange for a portion of the revenue. While Trump insists such measures serve national interests, critics argue they mark a departure from traditional US market practices and could undermine competitiveness.
For now, the TikTok deal remains under negotiation, but Trump’s backing of Murdoch, Ellison, and Dell signals that the future of the popular app with 170 million American users may rest in the hands of a small group of powerful US business figures.
