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President Trump makes a major infrastructure announcement on his second day in office.
president donald trump on Tuesday he repeated his view that the US should own half of TikTok and said he would favor X owner Elon Musk or Oracle founder Larry Ellison buying the linked social media app in China
During his first day in office on Monday, Trump issued an executive order giving more time to TikTok to operate and work to comply with a law requiring the platform’s Beijing-based owner, ByteDance, to sell the app to an American buyer or shut down the platform in the US
Elon Musk, right, speaks with President Donald Trump. (Photo by Brandon Bell/Getty Images/Getty Images)
Trump was asked during a news conference he announced massive Stargate AI infrastructure projectwhich includes Oracle, OpenAI and Softbank, would be open to Musk, its next ally, buying TikTok.
“I would be if I wanted to buy it, yes,” the president replied, adding: “I wish Larry would buy it too,” motioning to Ellison, who was present.
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Trump said he met with the current owners of TikTok and told the press, “I have the right to make a deal. So the deal I’m thinking about…” then turned to Ellison and he said, “Larry, let’s negotiate. in front of the media.”
Oracle founder Larry Ellison, right, listens to President Donald Trump’s speech in the Roosevelt Room of the White House on January 21, 2025 in Washington, DC (JIM WATSON/AFP via Getty Images/Getty Images)
The president said the deal he’s thinking about would involve someone buying TikTok “and giving half to the United States of America, and we’ll give you the license, and they’ll have a great partner.”
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After explaining the deal, Trump turned to Ellison and said, “Sounds reasonable. What do you think?”
Ellison replied, “Sounds like a good offer to me, Mr. President.” Afterward, Trump turned to the press and said of Ellison, “He can afford it, too.”
‘Shark Tank’ investor Kevin O’Leary talks TikTok’s future, the role of the Chinese government with a ‘secret gold stake’ and Trump’s role in keeping the platform available in the US
TikTok shut down its US operations on Saturday, a day before its deadline to shut down under the law. However, the platform restore US operations Sunday after Trump said he would sign the executive order extending the deadline to reach a deal that protects America’s national security.
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“By doing this, we save TikTok, keep it in good hands and let it (keep). Without US approval, there is no TikTok. With our approval, it’s worth hundreds of billions of dollars, maybe trillions,” Trump . she wrote in a social media post on Sunday. “So my initial thinking is a joint venture between the current owners and/or new owners whereby the US gets 50% ownership in a joint venture created between the US and any purchase we choose.”
Danielle Wallace of FOX Business contributed to this report.
