Oracle and a group of investors, such as Microsoft, are vying over TikTok's global operations. If both sides agreed, it would mean that ByteDance would keep a minority of the state in TikTok while the app's algorithm, data collection, and software updates would all be taken over by Oracle.
Media outlets are reporting that the White House is negotiating with ByteDance regarding the details of the deal, though President Trump has denied he is working with Oracle.
During his interview with Reuters on Saturday, President Trump revealed that he had talked with many parties who have expressed their interest in Oracle. But denied that Oracle was one of them.
"No, not with Oracle. Numerous people are talking to me, very substantial people about buying it and I will make that decision probably over the next 30 days, Congress has given 90 days. If we could save TikTok, I think it would be a good thing."
Others who reportedly considered buying TikTok include Elon Musk, Real estate billionaire Frank McCourt, and Shark Tank host Kevin O'Leary. But only recently did President Trump reveal that he would like Larry Ellison, who was the co-founder of Oracle, to buy the platform.
As Oracle already provides the bulk of TikTok's backbone, and a potential deal with it could see Oracle "effectively monitor and provide oversight with what is going on with TikTok."
While we do know abit of what Oracle is doing, but Microsoft's involvement in this deal is still unknown. All that we know is that the company is engaged in talks with ByteDance regarding the deal. Back in 2020, Microsoft was also competing with Oracle and Walmart to take over TikTok, a deal the Microsoft co-founder Bill Gates had called "a poisoned chalice." Walmart reportedly isn't involved this time around "after balking at the estimated price" of the app.
While House negotiators have stated that ByteDance believed TikTok is worth more than $200 billion, making the deal very expensive.
The news of the discussion comes shortly after President Trump issued an executive order giving TikTok a 90-day grace period before the app is officially banned in the country. Trump has also extended his hand to other tech companies like Apple and Google to put TikTok back online by creating a joint venture where the US owns 50% of the app.
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