President Trump makes major infrastructure announcement on his second day in office.
President Donald Trump On Tuesday, he reiterated his view that the United States should own half of TikTok and said he would support X owner Elon Musk or Oracle founder Larry Ellison buy China related social media app.
On Monday, on his first day in office, Trump issued an executive order give more time to TikTok to operate and work toward compliance with a law requiring Beijing-based platform owner ByteDance to either hand over the app to an American buyer or shut down the platform in the United States
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 projectinvolving Oracle, OpenAI and Softbank, whether he would be open to the purchase of TikTok by Musk, his close ally.
“I would be if he wanted to buy it, yes,” the president replied, adding, “I wish Larry would buy it too,” nodding toward Ellison, who was in attendance.
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Trump said he met with TikTok’s current owners and told the press, “I have the right to make a deal.” So the deal I’m thinking of…” then he 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 January 21, 2025 in Washington, DC. (JIM WATSON/AFP via Getty Images / Getty Images)
The president said the deal he’s considering would involve someone buying TikTok “and giving half of it to the United States of America, and we’ll give you the permit, and they’ll have a great partner.”
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After explaining the deal, Trump turned to Ellison and said, “That sounds reasonable. What do you think?”
Ellison responded: “That sounds like a good deal to me, Mr. President. » Trump then turned to the press and said of Ellison: “He can afford it too.”
‘Shark Tank’ investor Kevin O’Leary talks about the future of TikTok, the Chinese government’s role with a ‘secret golden share’ and the role Trump could play in keeping the platform available in the U.S. United.
TikTok shut down its operations in the United States on Saturday, the day before the deadline to shut down under the law. However, the platform American operations restored Sunday after Trump assured he would sign the executive order extending the deadline to reach a deal that protects America’s national security.
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“By doing this, we are saving TikTok, keeping it in good hands and allowing it to [stay] up. Without US approval, there is no TikTok. With our approval, it is worth hundreds of billions of dollars, if not trillions,” Trump wrote in a social media post on Sunday. “Therefore, my first thought is a joint venture between the current owners and/or the new owners, in which the United States would get a 50% stake in a joint venture created between the United States and whatever purchase we choose.”
Danielle Wallace of FOX Business contributed to this report.
