TikTok Sale: Trump Sparks Bidding War, Names Possible Buyers
President Donald Trump has initiated a bidding war for the fate of TikTok, inviting potential buyers to acquire the platform's US operations. Amidst concerns over national security, Trump has suggested several high-profile tech figures as possible candidates.
Microsoft (MSFT)
Microsoft, along with Walmart (WMT), previously bid for TikTok during Trump's first term, but failed. When asked about Microsoft's renewed interest, Trump confirmed its involvement. However, it remains unclear if the company is engaged in actual discussions.
Elon Musk (X)
Chinese officials have reportedly discussed selling TikTok's US assets to Musk, founder of X. Trump expressed intrigue at the possibility, stating that he would support such a deal. Musk has yet to comment on the matter directly.
Larry Ellison and Oracle (ORCL)
Trump has sent mixed signals regarding Ellison's involvement. Despite initially expressing interest in Ellison's potential purchase, Trump later denied discussions. However, NPR reports that the Trump administration is considering a plan that would award control of TikTok to Oracle, with Ellison as its chairman.
Perplexity AI
Perplexity AI, an AI startup backed by Amazon (AMZN) founder Jeff Bezos, has also submitted a proposal to acquire TikTok's US operations. The deal would involve merging Perplexity with TikTok US, resulting in a new entity with 50% ownership vested in the US government after an IPO.
Other Interested Parties
Frank McCourt, founder of Project Liberty and former owner of the LA Dodgers, has expressed interest in a deal that would keep TikTok US operational. His group includes "Shark Tank" star Kevin O'Leary. Other parties, including General Atlantic, Kohlberg Kravis Roberts (KKR), and Jesse Tinsley (founder of Employer.com), have also publicly announced their bids.
Trump has set a deadline of 30 days for a deal to be reached. The outcome of the bidding war remains uncertain, with various potential buyers and proposals on the table.