
President Donald Trump voiced support for Elon Musk’s potential acquisition of TikTok, suggesting a unique deal structure that could benefit both the buyer and the United States government.
At a Glance
- Trump supports Elon Musk’s potential purchase of TikTok
- An executive order gives TikTok a 75-day deadline to arrange a sale or face a ban
- Trump proposed a deal where the buyer gives half of TikTok to the U.S. in exchange for a permit
- Oracle co-founder Larry Ellison also mentioned as a potential buyer
- Announcement made during unveiling of $500 billion AI infrastructure project
Trump Endorses Musk’s Potential TikTok Acquisition
In a surprising turn of events, President Donald Trump has expressed openness to the idea of Elon Musk acquiring TikTok, the popular social media platform. The President’s comments came during a conversation with reporters, where he discussed the future of the app in the United States.
Trump’s support for Musk’s potential involvement comes as TikTok faces increasing scrutiny over its Chinese ownership. The President recently signed an executive order giving TikTok a 75-day reprieve from a sell-or-ban law, putting pressure on the company to find an American buyer.
Proposed Deal Structure
During the discussion, Trump outlined a unique proposal for the potential sale of TikTok. He suggested that the app’s value is heavily dependent on obtaining a permit to operate in the United States, and proposed an unconventional deal structure.
“I met with the owners of TikTok, the big owners, it’s worthless if it doesn’t get a permit. It’s worth like a trillion dollars. So what I’m thinking about saying to somebody is, ‘buy it and give half to the United States of America, and we’ll give you the permit, and they’ll have a great partner,” President Donald Trump said.
This proposal suggests that Trump is open to creative solutions that could potentially benefit both the buyer and the U.S. government. The President’s willingness to streamline regulatory approvals for such a deal indicates his administration’s commitment to resolving the TikTok situation quickly.
Potential Buyers in the Spotlight
While Elon Musk has been named as a potential buyer, he is not the only high-profile figure in the mix. Trump also mentioned Larry Ellison, Co-Founder of Oracle, as another possible candidate for acquiring TikTok. Musk’s connections with China and his track record of successful tech ventures make him an intriguing option in the eyes of the administration.
“I would be, if he wanted to buy it.” President Donald Trump said, referring to Musk’s potential interest in acquiring TikTok.
The inclusion of these tech industry giants in the conversation underscores the significance of the TikTok sale and its potential impact on the U.S. technology landscape. As the 75-day deadline approaches, all eyes will be on these potential buyers and their next moves.
AI Infrastructure Initiative
Trump’s comments on the TikTok situation were made during the announcement of a massive $500 billion AI infrastructure project. This ambitious initiative involves major players in the tech industry, including Oracle, Softbank, and OpenAI. The project aims to bolster America’s position in the rapidly evolving field of artificial intelligence, demonstrating the administration’s commitment to technological advancement and economic growth.