"Who's grabbing control of TikTok's US assets? Well, a lot of different people. On Thursday, President Donald Trump said Larry Ellison and his company, Oracle, would be involved in a $14 billion deal to buy TikTok's US business. Billionaires Rupert Murdoch and Michael Dell would also play a role, Trump said. Outside that group, a slew of other names have been reported as potentially being in the deal, including the private equity firm Silver Lake Management and MGX, a venture capital firm based in Abu Dhabi."
"Oracle, which currently works with TikTok on data security, is expected to take on a significant role in the business going forward. The company will audit the app's algorithm, which will be "retrained and operated in the United States outside of ByteDance's control," White House spokesperson Karoline Leavitt said on Monday. "Oracle is playing a very big part," Trump said on Thursday."
TikTok's US business is expected to be sold to a consortium of investors, companies, and wealthy individuals led by Oracle's Larry Ellison, with Rupert Murdoch and Michael Dell also involved. Silver Lake Management and Abu Dhabi-based MGX are named as potential investors. President Trump cited a $14 billion purchase price. ByteDance is expected to keep a minority stake below 20 percent to comply with the divest-or-ban law. Oracle will play a major operational role, auditing the app's algorithm and overseeing its retraining and operation in the United States outside of ByteDance's control.
Read at Business Insider
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