US Sovereign Wealth Fund May Play Role in TikTok Rescue
Key Points:
* President Trump suggests using a newly created US sovereign wealth fund to acquire a stake in TikTok.
* TikTok's Chinese parent company, ByteDance, is facing a divestiture requirement to avoid a US ban.
* Trump previously proposed a 50% stake for the US in a TikTok deal.
* Microsoft, Oracle, and Elon Musk are potential buyers.
* The Trump administration is exploring options, including a partnership with outside investors led by Oracle.
* ByteDance would retain a minority stake under such a scenario.
* Trump denies talks with Oracle but acknowledges interest from "substantial" parties.
* China has reportedly considered selling TikTok's US operations to Elon Musk.