Trump to Approve TikTok Deal Giving America a Majority Investor Control
ByteDance, the parent company, will hold “less than 20% of the stock.”
President Donald Trump is expected to approve a deal that grants American investors majority control of TikTok and its user data, allowing the platform to remain in a cloud-based system within the United States.
The deal will abide by the parameters established by the law passed by Congress and upheld by the Supreme Court.
Oracle will control the TikTok algorithm, provide security, and manage the cloud.
China-based ByteDance, the parent company, will hold “less than 20% of the stock.”
Rupert and Lachlan Murdoch, tech entrepreneur Michael Dell, and Larry Ellison, CEO of Oracle, are among those investors as well.
American investors will hold six of the seven positions on the U.S.-based board. ByteDance will have one seat.
What they’re saying: In an interview with Fox News’s “The Sunday Briefing,” Trump proudly touted a list of bold-faced names who he said may be part of the still-mysterious deal.
- “Michael Dell is involved. I hate to tell you this, but a man named ‘Lachlan’ is involved. Do you know who Lachlan is? That’s a very unusual name — Lachlan Murdoch. … And Rupert is probably going to be in the group — I think they’re going to be in the group,” Trump said, when asked about the U.S, buyers for the dominant social media app.
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Comments
No, no, no. You’re supposed to excise cancer, not adopt it.
Yes, yes yes! Control of the best is far preferable to outright banning something that could NEVER be banned. Get with the times pal.
Having worked with Oracle in a professional capacity, I don’t think there will be any improvements from the “undermine the west” algorithms already in play.
Yup. The problem with TikTok is that is’t a subversive intelligence tool and a ppervasive propaganda tool. Not who owns its stock. You think you have control over the company but you don’t.
Trump of all people should understand this. After all, in his last term, he “owned”: the FBI and the DOJ, and it didn’t make a damned bit of difference.
I suspect you intended “control of the beast”….
I’d like to see it go away entirely…. but I’d also like to see parents actually parent their children instead of handing them smart phones and tablets and setting them loose on the internet. Neither is likely to happen.
Take the salty single entitled complaining man hating 304s off and the content will improve by 10000%.
I suspect the content will shift rightward once this is executed and controls are implemented. I and many others stay away from the platform entirely just because of the Chinese issue.
Chaya Raichik does a saint’s work in showing us the stupidity without us having to go there.
This never would have happened under Biden. Tiktok would be here running unopposed by Chinese espionage.
If Biden were still here, we’d have a government-run Starlink replacement consisting of a continental network of Chinese weather balloons.
You spelled Israel wrong.