Lachlan Murdoch, Michael Dell, Larry Ellison set to join TikTok U.S. deal, Trump says
President Donald Trump said on Sunday that media mogul Lachlan Murdoch and business leaders Larry Ellison and Michael Dell would be involved as U.S. investors in a proposed deal to keep TikTok operating in the United States.
Trump added that the United States and China have made progress on a deal requiring TikTok’s American assets to be transferred from China’s ByteDance to U.S. ownership. The move would allow Trump allies in corporate America to gain influence over the social media app, which has 170 million U.S. users and plays a significant role in shaping political and cultural discourse, News.Az reports, citing Reuters.
Under the expected agreement, TikTok’s U.S. operations would be majority-owned by American investors and managed by a board of directors with expertise in national security and cybersecurity. ByteDance would retain less than 20% of the stock in a joint venture controlling TikTok’s U.S. operations.
Trump praised the prospective investors during an interview on Fox News’ The Sunday Briefing, calling them “prominent people” and “American patriots,” adding, “I think they’re going to do a really good job.” He noted that TikTok helped build his support among young voters in the 2024 presidential election.
Murdoch, CEO of Fox Corp, recently secured long-term control of his family’s media empire, which includes Fox News and the Wall Street Journal, following a years-long legal battle with his siblings. Trump suggested that family patriarch Rupert Murdoch, 94, may also be involved in the deal. Any investment would come through Fox Corp, not the Murdochs as individuals, sources told Reuters.
Ellison, co-founder of Oracle and a major Republican donor, has long been linked to a potential TikTok deal. Dell, CEO of Dell Technologies, did not immediately comment.
The Trump administration has opted not to enforce a 2024 law requiring TikTok’s divestiture by January 2025, citing concerns over U.S. economic and trade interests. The administration has taken an unusually active role in business deals, including acquiring stakes in Intel and intervening in chip sales by Nvidia. Critics argue these interventions depart from traditional U.S. capitalist norms and may affect competitiveness, while Trump frames them as protecting American interests.
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