The oracle of tech billionaire Larry Ellison is reportedly “a major candidate for running Tiktok” as the Trump administration works to ensure sales that avoids a complete ban on Chinese-owned apps.
Until April 5, Trump will need to find a buyer for Tiktok after delaying enforcement of the Congressional ban for 75 days in January.
Tiktok was temporarily offline in January as the ordinance failed to meet the deadline to sell shares for national security concerns.
Bytedance wants Oracle, which already serves as Tiktok's leading cloud computing provider, and it wants to be a potential trading partner. Reported informationcites conversations with investors, bankers and former executives who are well-versed in the way Chinese companies think.
Leading by CEO Shou Zi Chew, Bytedance has reportedly wanted to maintain stakes in Tiktok's business after the transaction despite the terms of the legislative law requiring parliamentary sales.
Tiktok declined to comment. Representatives from the White House and Oracle did not immediately return requests for comment.
Information reported that Bytedans hopes Trump will approve a deal with a revived version of Tiktok's “Project Texas.”
The initiative, which failed to alleviate Congressional concerns, was also asked to check Tiktok's source code to ensure Oracle is safe.
Critics have long argued that Tiktok serves as a spy and propaganda tool for the Chinese Communist Party.
At a White House event in January, Trump said Ellison or X owner Elon Musk is open to the possibility of purchasing Tiktok.
Ellison has not yet commented publicly on his interest, but Musk said he has no plans to buy the video sharing app.
Trump also suggests that Microsoft may be involved in talks over the Tiktok acquisition.
In March, the president said the White House “contains four different groups” and many people want it, but did not specify the name of the bidder.
Earlier this month, the president said that if the transaction needs to be completed, he would “probably” extend the deadline again. He also suggests that the US government can purchase shares in the app through sovereign wealth funds as part of a joint venture, but details remain vague.
Trump reportedly tapped on the vice president to lead sales negotiations.
The group, led by billionaire Frank McCourt and Shark Tank star Kevin O'Leary and Reddit co-founder Alexis O'Hanian, bought Tiktok and publicly campaigned to rebuild its recommended algorithms from scratch in US soil.
The group claims to use blockchain technology to give users greater control over how data is monetized.
Others known to be interested include bids including Jesse Tinsley, a high-tech entrepreneur who is reportedly included YouTube star Mrbeast.
Transactions with ongoing Chinese ownership are likely to violate Congress laws as is currently written, requiring a full sale by the state.
A strong supporter of the law, Senate Intel Committee Chairman Tom Cott has vowed to ensure compliance with that standard.
In a post reported last month, a national survey found that 77% of Americans are concerned about the continued Chinese ownership of Tiktok.
Apple and Google have resumed allowing Tiktok app downloads after receiving guarantees from U.S. Attorney General Pam Bondi that they will not face penalties, including a $5,000 user fine outlined in Congressional sale or van law.
