Trump administration supports Microsoft’s Oracle challenge in a potential TikTok takeover. The app is worth $50 billion overall.
Software company Oracle is challenging Microsoft in a potential TikTok takeover. Oracle leaders are in talks with TikTok parent company Byte Dance about getting the app’s business operations in the US and other English – speaking countries.
- Trump supports Microsoft’s Oracle challenge on TikTok acquisition.
- China-owned TikTok has been raising security concerns for months.
- Microsoft will take over TikTok operations in the United States, Canada, Australia and New Zealand.
- Byte Dance investors agree that TikTok is worth $50 billion overall.
According to the Trump administration’s deadline, the deal must be completed by September 15.
The possible acquisition of Microsoft
China-owned TikTok has been raising security concerns for months. When the Trump administration announced a ban on the app, Microsoft expressed interest in acquiring the video-sharing app.
Since then, the technology company has worked closely with the White House, shifting ownership to balance user demand with national security.
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As part of this agreement, Microsoft will take over TikTok operations in the United States, Canada, Australia and New Zealand.
Trump offered his blessing to the company to try to conclude a deal before September 15, when the time crisis made the deal impossible.
Oracle is challenging Microsoft on TikTok
Enter Silicon Fence-based software company Oracle. The company is said to be in early negotiations with Beijing-based TikTok’s parent company, Byte Dance, to compete with Microsoft in a takeover.
Venture capital companies Sequoia Capital and General Atlantic are also part of the deal. The fact that these two groups are already Byte Dance investors makes a great promise for negotiations.
There are no details yet about the acquisition price, but most Byte Dance investors agree that TikTok is worth $50 billion overall.
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Trump’s support
Trump’s history with the co-founder of Oracle may have influenced his response to the potential purchase. Larry Ellison reportedly ran a fundraiser for Trump’s campaign at his home in Rancho Mirage, California. Speaking about the president, Ellison said, “I don’t think he’s a devil. I support him. I want him to be well.”
This sentiment is mutually exclusive, as President Trump praised Elysine during an event in Yuma, Arizona. “Well, I think Oracle is a great company, and I think its owner is a great guy,” Trump said.
“She is OK. I think Oracle will definitely be the one to handle it. Yes. We gave them until September 15th. “
