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Trump says Lachlan and Rupert Murdoch might invest in TikTok deal
President Trump suggested that Rupert and Lachlan Murdoch may invest in a deal to spin off TikTok’s U.S. operations, which is expected to give Americans majority control. The potential investors include Oracle and Dell Technologies. A White House official indicated an agreement is close, aiming to address previous concerns over TikTok's Chinese ownership amid national security issues.
Key points
- Trump mentioned the potential involvement of Rupert and Lachlan Murdoch in the TikTok deal.
- He indicated that Oracle and Dell executives might also invest.
- White House Press Secretary stated an agreement on TikTok's American ownership has been reached but not finalized.
- The new structure would give Americans six of seven board seats and control over the app's algorithm.
- ByteDance would maintain less than 20% ownership in the U.S. spinoff.
Why it matters
- In 2022, a federal bill aimed to ban TikTok due to security concerns, which highlights ongoing debates about foreign-owned apps.
- This potential deal mirrors trends of increasing American ownership in foreign tech companies amid national security threats.
- The involvement of prominent investors like Murdoch aligns with increasing investments in U.S.-based tech ventures.
The potential Murdoch investment in TikTok's U.S. spinoff illustrates a significant shift towards American control of foreign-owned tech, emphasizing national security and economic interests.