The race to acquire TikTok's US operations has intensified with multiple high-profile contenders emerging amidst a 75-day deadline for compliance with US regulations. President Trump announced that a decision regarding TikTok's fate will be made within 30 days.

Oracle has emerged as the frontrunner in negotiations, with a proposed structure that would:

• Allow ByteDance to maintain a minority stake
• Place Oracle in charge of overseeing the app's algorithm, data collection, and software updates
• Include participation from ByteDance's current US investors (Susquehanna International Group, General Atlantic, KKR, and Sequoia Capital)

Other notable parties expressing interest include:

• Elon Musk
• MrBeast (YouTube creator)
• Kevin O'Leary
• Steven Mnuchin

Perplexity AI has submitted a revised merger proposal, dubbed "NewCo," which offers:

• Integration of TikTok's US operations with Perplexity's AI capabilities
• Up to 50% ownership stake for the US government upon future IPO

A source close to the Oracle negotiations told NPR: "The goal is for Oracle to effectively monitor and provide oversight with what is going on with TikTok. ByteDance wouldn't completely go away, but it would minimize Chinese ownership."

Related Articles

Previous Articles