
On Monday, U.S. President Donald Trump announced that Microsoft is engaged in discussions to acquire the widely-used video-sharing application TikTok, expressing his hope for a competitive bidding process for the platform.
During a press briefing, Trump informed reporters that several parties are competing for TikTok, stating, “I would like the United States to have a 50 percent ownership stake in a joint venture,” as reported by Reuters. Trump’s statements follow his earlier indication that he favors prominent individuals, such as Tesla CEO Elon Musk or Oracle Corp Chairman Larry Ellison, to take control of TikTok, citing concerns regarding its ownership by a Chinese company.
Additionally, Trump’s comments come after he disclosed that numerous influential figures have expressed interest in acquiring the app. “Many substantial individuals are in discussions with me. There is significant interest, and the United States stands to gain greatly… I would only proceed if it benefits the United States,” he remarked on Saturday.
In a surprising development, Perplexity AI has joined the competitive bidding landscape. The firm has put forth a proposal for a merger with TikTok’s operations in the United States, alongside a collaborative venture with the US government.
This arrangement would allow ByteDance, the Chinese parent company of TikTok, to maintain a share in the platform, while necessitating the establishment of a US-based board to oversee all operational decisions pertaining to TikTok within the country.
Despite these reservations Trump, who previously commended TikTok for its role in connecting him with younger voters during his campaign, opted to temporarily halt the ban. He issued an executive order that granted TikTok a period of 75 days to seek a resolution, particularly through a sale that would remove Chinese ownership.
Joe Biden, the former President of the United States, approved a law that supports the prohibition of the platform, in response to bipartisan worries that it might be utilized to appropriate Americans’ personal information and sway public opinion.