\n<\/p>\n
“I would be [in favour] if he wanted to buy it,” Trump said of Musk, the owner of X, in response to a reporter\u2019s question at the White House. He added, “I\u2019d like Larry to buy it too,” referencing Oracle chairman Larry Ellison, who stood beside him during a press conference announcing a $500 billion artificial intelligence infrastructure initiative.<\/p>\n
Trump outlined a potential arrangement for the U.S. government to issue a “permit” in exchange for receiving half of TikTok. “I have the right to make a deal,” Trump said. “So I\u2019m thinking about telling somebody to buy it and give half to the United States of America, and we\u2019ll give you the permit. They\u2019ll have a great partner.\u201d<\/p>\n
Ellison responded positively, saying, “It sounds like a good deal to me, Mr. President.”<\/p>\n
The comments provide additional context to Trump\u2019s earlier suggestion of a 50-50 “joint venture” to resolve TikTok\u2019s ownership concerns. Since TikTok’s parent company is based in China, any such deal would also require Chinese government approval.<\/p>\n
On Monday, the president floated the idea of imposing tariffs on China if they don’t approve a proposed buyer for TikTok’s US assets. At a rally, he indicated that TikTok parent ByteDance would turn over half of the company so that he would allow it to keep operating.<\/p>\n
“Whether you like TikTok or not, we\u2019re going to make a lot of money,” he said.<\/p>\n
Ives expects 10-15 bids, with X owner Musk in the driver\u2019s seat to win Beijing’s approval. Oracle, he said, could be involved, given that it acts as a host for the social media platform. It could also go to a consortium that Musk could build.<\/p>\n
On Sunday, Musk said on X, \u201cI have been against a TikTok ban for a long time because it goes against freedom of speech. That said, the current situation where TikTok is allowed to operate in America but X is not allowed to operate in China is unbalanced. Something needs to change.\u201d<\/p>\n<\/div>\n