Trump says Larry Ellison, Michael Dell and Murdochs will be involved in TikTok deal
By Auzinea Bacon, Aileen Graef, Brian Stelter, CNN
(CNN) — President Donald Trump on Sunday said tech and media giants Larry Ellison, Michael Dell, and Lachlan and Rupert Murdoch will be a part of the group to take over TikTok’s algorithm in the acquisition of the social media platform’s US operations.
“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,” referring to Lachlan Murdoch — the CEO of Fox Corp., which is the parent company of Fox News — and the son of Fox Corp. founder Rupert Murdoch.
Trump added that Rupert Murdoch “is probably going to be in the group.”
The TikTok talks involving the Murdochs could result in Fox Corp. becoming part of the consortium, according to a person familiar with the matter. Rupert and Lachlan Murdoch would not be investing as individuals.
Participating in the TikTok consortium could provide a boost for Fox Corp., which has been making many digital media investments to offset declining areas of business like broadcast television.
Dell is the CEO of computer maker Dell Technologies.
Trump’s comments are a change from the consortium of investors previously named in the TikTok deal. The Trump administration had said that the group of investors would include Ellison’s company, Oracle, along with Silver Lake and Andreessen Horowitz.
White House press secretary Karoline Leavitt told Fox News on Saturday that TikTok will have seven board members, six of whom will be American.
The makeup of American investors is required by the bill passed by Congress in April 2024, which required a nationwide ban of TikTok operations in the United States unless the social media app sold about 80% of its assets to American investors.
Leavitt had said on Saturday that data and privacy for the app in the United States will be led by Oracle and that the company would be one of the American investors.
Ellison’s company began hosting TikTok’s US data in 2020.
Trump said Friday that he had “a very productive call” with Chinese President Xi Jinping, and that progress was made toward finalizing the deal.
The-CNN-Wire
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CNN’s Alayna Treene, David Goldman and Clare Duffy contributed to this report.
