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.
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.
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. “