Former US President Donald Trump said he would be okay if Tesla CEO Elon Musk wanted to buy TikTok, suggesting an unprecedented arrangement where the US government would receive a 50% ownership stake in exchange for operating permits.
“I would be if he wanted to buy it, yes,” Trump said during a press briefing when asked about Musk’s potential involvement. He also suggested Oracle Chairman Larry Ellison as a possible buyer.
Executive Order Temporarily Lifts TikTok Ban
Trump’s comments followed his executive order that suspended TikTok’s ban for 75 days, temporarily halting restrictions enforced after the Supreme Court upheld legislation requiring ByteDance, TikTok’s parent company, to divest its US operations.
Trump suggested that ByteDance could find “the ultimate partner” in Musk or Ellison, claiming TikTok could reach a $1 trillion valuation with proper permits, despite analysts currently valuing its US operations at around $50 billion.
“What I’m thinking about saying to somebody is, buy it and give half to the United States of America,” Trump added. “And we’ll give you the permit.”
Evolving Stance on TikTok
This marks a dramatic turnabout in Trump’s position on TikTok since 2020, when he tried to ban the app through executive action. According to reports, this change in position came after a February meeting with Jeff Yass, a prominent Republican donor and investor in ByteDance.
Chinese officials have shown some willingness to consider a sale, with Foreign Ministry spokeswoman Mao Ning saying that companies should make decisions based on market principles.
Uncertain Future of TikTok
The platform’s future remains uncertain as Apple and Google have withheld TikTok from their app stores due to US legal requirements, though existing users have regained access.
TikTok CEO Shou Zi Chew attended Trump’s inauguration on Monday alongside tech leaders Elon Musk, Meta CEO Mark Zuckerberg, and Amazon founder Jeff Bezos. This high-profile gathering has fueled speculation about potential deals involving the platform.