President Trump makes a major infrastructure announcement on his second day in office.
President Donald Trump on Tuesday he reiterated his view that the US should own half of TikTok and said he would favor X owner Elon Musk or Oracle founder Larry Ellison buying the China-linked social media app.
During his first day in office on Monday, Trump issued an executive order giving TikTok more time work and work to comply with a law that forces the Beijing-based platform owner, ByteDance, to transfer the app to an American buyer or shut down the platform in the US
Elon Musk, right, talks with President Donald Trump. (Photo by Brandon Bell/Getty Images/Getty Images)
Trump was asked during the press conference making the announcement a large Stargate AI infrastructure projectincluding Oracle, OpenAI and Softbank, would he be open to Musk, his close ally, buying TikTok.
“I would be if you wanted to buy it, yes,” the president replied, adding: “I’d like Larry to buy it, too,” nodding toward Ellison, who was in attendance.
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Trump said he met with the current owners of TikTok and told reporters, “I have the right to a deal. So the deal I’m thinking about…” then turned to Ellison and said, “Larry, let’s negotiate in front of the media.”
Oracle founder Larry Ellison, right, listens to a speech by President Donald Trump in the Roosevelt Room of the White House on January 21, 2025 in Washington, DC (JIM WATSON/AFP via Getty Images/Getty Images)
The president said the deal he’s considering would involve someone buying TikTok “and giving half to the United States, and we’ll give you the license, and they’ll have a great partner.”
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After explaining the deal, Trump turned back to Ellison and said, “Sounds reasonable. What do you think?”
Ellison replied, “Sounds like a good deal to me, Mr. President.” Trump then returned to reporters and said of Ellison, “And he can afford it.”
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TikTok shut down its US operations on Saturday, a day before the statutory shutdown deadline. However, the platform resumed American operations on Sunday after Trump provided assurances that he would sign an executive order extending the deadline to reach a deal that protects America’s national security.
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“By doing this, we’re saving TikTok, keeping it in good hands and letting it do that [stay] up. Without US approval, there is no TikTok. With our approval, it is worth hundreds of billions of dollars – maybe trillions,” Trump wrote in a social media post on Sunday. “So my initial thought is a joint venture between the current owners and/or new owners with the US getting 50% ownership in the joint venture established between the US and any purchase we choose.”
FOX Business’ Danielle Wallace contributed to this report.
