President Donald Trump responded to questions from reporters during a press conference on the $500 billion infrastructure investment project for AI. When asked about Elon Musk’s potential purchase of TikTok, Trump stated that if Musk wants to buy it, he can go ahead, and he would like Larry Ellison, CEO of Oracle, to join in the purchase as well (Ellison was present at this press conference).
He further explained that the value of TikTok’s business would be significantly higher if it continues to operate in the United States. His proposal involved someone buying the business and then giving half of the shares to a U.S. company. This way, approval from ByteDance, TikTok’s parent company, to have a top-tier business partner would benefit all parties involved.
As of now, Trump has postponed the enforcement of the TikTok ban by 75 days. Even though ByteDance has indicated that they do not want to sell TikTok’s business in the U.S., China has stated that the decision-making authority lies with the company itself. Elon Musk has yet to comment on this news.
Source: CNBC
TL;DR – President Trump is open to Elon Musk purchasing TikTok, suggesting that a partnership with a U.S. company could be beneficial for all parties involved. He has postponed the TikTok ban enforcement by 75 days.
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