Newly inaugurated US President Donald Trump on Tuesday expressed support for Elon Musk potentially acquiring TikTok, and also proposed a joint ownership structure with the U.S. government.
"I would be, if he wanted to buy it, yes," Trump told reporters at a White House event announcing a new AI infrastructure private sector partnership, where OpenAI CEO Sam Altman and Softbank CEO Masayoshi Son were in attendance. The comments came just days after TikTok briefly went offline in the United States following Supreme Court action.
The social media platform, which boasts 170 million American users, temporarily shut down for about 12 hours on Saturday after the Supreme Court upheld legislation requiring Chinese company ByteDance to divest its US TikTok operations. Trump subsequently issued an executive order providing a 75-day pause on the ban's enforcement.
During the White House event, where Oracle co-founder Larry Ellison was also present, Trump floated the idea of a 50-50 ownership split between any acquiring company and the US government. "They'll have something that's actually more valuable because they have the ultimate partner," Trump explained.
Trump specifically mentioned both Musk and Ellison as potential buyers during the event. Oracle already plays a significant role in TikTok's operations, hosting most of the platform's servers.
Trump originally supported banning the short-form video app over national security concerns, but his thinking has U-turned since winning the US presidential election for a second time. "We won the young vote. I think I won it through TikTok," Trump told reporters. "So I have a warm spot in my heart for TikTok."
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