Trump will decide TikTok's fate in the next 30 days

He shared this information with reporters on a flight to Florida on January 25.

Previously, according to Reuters, the Trump administration was building a plan to save TikTok, including cooperating with software company Oracle and a group of outside investors to take control of the application's operations.

Protest against TikTok ban on Capitol Hill in mid-2024. Photo: Reuters

Under the deal being negotiated by the White House, TikTok owner ByteDance would retain a stake in the company, but data collection and software updates would be overseen by Oracle. However, Mr Trump said he had not yet spoken to Oracle CEO Larry Ellison about buying the app.

Asked if he was working with Oracle to save TikTok, he said: "No, not with Oracle. A lot of people, very important people, have talked to me about buying TikTok and I could make a decision in the next 30 days. Congress gave me 90 days. If we can save TikTok, I think that's great."

The terms of any potential deal with Oracle are likely to change, as the full scope has not been determined and could include operations in the US as well as other regions, the sources said.

According to NPR, the talks could involve ByteDance's current investors such as Susquehanna International Group, General Atlantic, Kohlberg Kravis Roberts (KKR) and Sequoia Capital. Other groups interested in acquiring TikTok include a group of investors led by billionaire Frank McCourt, or Jimmy Donaldson - famous for his YouTube account Mr. Beast.

Currently, the 'backbone' for TikTok's US operations largely comes from a server network provided by Oracle. According to sources, Oracle plans to 'effectively monitor what's going on with TikTok,' and the goal of the deal is to 'minimize Chinese ownership.' TikTok's management will remain in place to operate the short-video app.

Representatives for TikTok and Oracle did not immediately respond to requests for comment.

TikTok previously said US officials had misunderstood its relationship with China because its content recommendation algorithm and US user data are stored by Oracle - an American company.

In April 2024, Joe Biden signed the Protecting Americans from Foreign Adversaries Act (PAFACA), which requires TikTok to cut ties with its Chinese parent company ByteDance or be banned entirely. During his inauguration on January 20, Trump signed an executive order to suspend the law for 75 days and allow app stores to reopen for downloads.

The new order provides TikTok with temporary relief, but it remains in a precarious position. 'The 75-day delay provides minimal protection, as courts do not consider such promises to be binding,' University of Minnesota Law School professor Alan Rozenshtein told Lawfare. 'Trump could change his mind at any time or apply it selectively to companies that are no longer politically favored.'

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