TikTok Sale Race Heats Up: Oracle Leads as Musk, MrBeast, and Multiple Bidders Compete for US Operations
The race to acquire TikTok's US operations has intensified, with multiple high-profile bidders emerging amid national security concerns. The social media platform must be sold to a US company within 75 days or face a ban, according to President Trump's executive order.
Hand holding phone displaying TikTok
Oracle has emerged as the frontrunner in negotiations, with a proposed deal structure that would:
- Allow ByteDance to retain a minority stake
- Give Oracle oversight of TikTok's algorithm, data collection, and software updates
- Include participation from ByteDance's current US investors (Susquehanna International Group, General Atlantic, KKR, and Sequoia Capital)
Notable contenders for TikTok acquisition include:
- Elon Musk
- YouTuber MrBeast
- Kevin O'Leary with Frank McCourt's investor group
- Steven Mnuchin
- Perplexity AI
Perplexity AI has submitted a revised merger proposal to create "NewCo," offering the US government up to 50% ownership upon future IPO. This proposal would combine their AI capabilities with TikTok's US operations.
Trump has indicated a final decision will be made within 30 days, with multiple parties currently in discussions. The primary goal remains ensuring proper oversight of TikTok's operations while minimizing Chinese ownership influence.
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