Trump names tech and media giants in US TikTok takeover plan

“You know, they’re very well-known people. And Larry Ellison is one of them. He’s involved. He’s a great guy. Michael Dell is involved. I hate to tell you this, but a man named Lachlan is involved,” Trump said on Fox News’ Sunday Briefing, adding that Rupert Murdoch “is probably going to be in the group.”

The plan follows an April 2024 law requiring TikTok's Chinese parent company, ByteDance, to sell about 80% of its US assets to American investors or face a nationwide ban.

White House press secretary Karoline Leavitt told Fox News that Oracle will oversee US data and privacy with a seven-member board, “six of whom will be American.”

Trump also said he had “a very productive call” with Chinese President Xi Jinping on Friday, signaling progress toward finalizing the deal.