President Trump made a major infrastructure announcement on his second day in office.
President Donald Trump on Tuesday reiterated his view that the US should have a stake in TikTok and said he would favor X owner Elon Musk or Oracle founder Larry Ellison buying the China-linked social media app.
On his first day in office on Monday, Trump issued an executive order giving TikTok more time to comply with a law that forces the platform’s Beijing-based owner, ByteDance, to sell the app to an American consumer or shut down the platform. down in the US
Elon Musk, right, speaks with President Donald Trump. (Photo by Brandon Bell/Getty Images/Getty Images)
Trump was asked at a press conference announcing the massive Stargate AI infrastructure project, which involves Oracle, OpenAI and Softbank, whether he would open up to Musk, his close friend, who is buying TikTok.
“I would if he wanted to buy it, yes,” the president replied, adding, “I’d like Larry to buy it,” nodding to Ellison, who was there.
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Trump said he met with the current owners of TikTok, and told the press, “I have a right to make a deal. So, the deal I’m thinking about…” then turned to Ellison and said, “Larry, let’s negotiate. in front of the media.”
Oracle founder Larry Ellison, right, listens to President Donald Trump’s speech in the Roosevelt Room of the White House on Jan. 21, 2025 in Washington, DC (JIM WATSON/AFP via Getty Images/Getty Images)
The president said the deal he is considering would involve someone buying TikTok “and giving half to the United States of America, and we’ll give you permission, and they’ll have a great partner.”
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After explaining the deal, Trump turned to Ellison and said, “It sounds reasonable. What do you think?”
Ellison replied, “Sounds like a good deal to me,” Mr. Trump then returned to the media and said of Ellison, “He can afford it too.”
‘Shark Tank’ investor Kevin O’Leary talks about the future of TikTok, the role of the Chinese government and the ‘secret sharing of gold’ and the role Trump can play in keeping the platform available in the US.
TikTok shut down its operations in the US on Saturday, a day before its deadline to comply with the law. However, the platform returned to US action on Sunday after Trump gave assurances that he would sign an executive order to extend the deadline to reach a deal that protects US national security.
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By doing this, we save TikTok, keep it in good hands and allow it [stay] up. Without US approval, there is no TikTok. With our consent, it is worth hundreds of billions of dollars – maybe billions,” Trump wrote on social media on Sunday. 50% ownership in a joint venture between the US and any purchase we choose.”
FOX Business’ Danielle Wallace contributed to this report.