TikTok Sale: Potential Buyers and Bidding Frenzy
Overview
President Donald Trump is facilitating a bidding war for the US operations of TikTok, a popular social media app. Several prominent tech companies and investors have expressed interest in acquiring the platform.
Potential Buyers
Microsoft
Microsoft and Walmart previously attempted to acquire TikTok but were unsuccessful. Trump has indicated that Microsoft is still interested in ownership.
Elon Musk
Chinese officials have reportedly discussed selling TikTok's US business to Musk, owner of X. Musk has not publicly confirmed his interest.
Larry Ellison and Oracle
Ellison, chairman of Oracle, has been mentioned by Trump as a potential buyer. NPR reported on a plan that would give Oracle control of TikTok, but Trump later denied discussions.
Perplexity AI
Perplexity AI, a startup backed by Jeff Bezos, Nvidia, and others, has proposed merging with TikTok's US business and giving half ownership to the US government.
Other Interested Parties
* Frank McCourt (Project Liberty, LA Dodgers)
* Kevin O'Leary ("Shark Tank")
* Jesse Tinsley (Employer.com) and Jimmy Donaldson ("MrBeast")
* Steven Mnuchin (former US Treasury Secretary)
Bidding Process
Trump has set a 30-day deadline for a deal to be reached. An executive order signed on his first day in office gives TikTok's parent company, ByteDance, until April 4 to find a solution.
Political Considerations
The Chinese government will have a say in the sale of TikTok. Musk's close relationship with incoming President Trump may favor his bid.
Legal Hurdles
Antitrust experts believe Musk's bid may face fewer legal obstacles. However, the law banning TikTok in the US, which went into effect on January 19, complicates the situation.