"Trump said Oracle and its CEO, Larry Ellison, will be part of the deal. Analysts had previously estimated that TikTok was worth significantly more. China and TikTok have yet to comment on where things stand. White House press secretary Karoline Leavitt said Oracle would "audit" TikTok's algorithm and oversee its retraining. Control of the algorithm has long been a major sticking point in any sale."
"To all of those young people of TikTok, I saved TikTok, so you owe me big," Trump said in a video filmed in the Oval Office. "And now, you're looking at me in the Oval Office, and someday one of you is going to be sitting right at this desk, and you're going to be doing a great job also."
President Donald Trump posted his first TikTok since the 2024 election, telling young users they "owe me big" and saying he "saved" TikTok while envisioning future young leaders. He signed an executive order approving a U.S. buyer group for an approximately $14 billion deal and named Oracle and Larry Ellison as participants. Analysts had valued TikTok higher. China and TikTok have not commented on the transaction. The White House said Oracle would audit the app's algorithm and oversee retraining. Control of the algorithm and Chinese export controls remain central obstacles. Trump previously supported a ban.
Read at Business Insider
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