- Chinese tech firm ByteDance would hold less than a 20% stake in this joint venture, significantly curbing its influence.
- New company likely to operate as an independent American entity, overseen by a board featuring six Americans with national security and cybersecurity credentials and just one ByteDance-selected member.
President Donald Trump announced on Sunday that a group of high-profile US investors—including Fox Corp’s Lachlan Murdoch, Oracle co-founder Larry Ellison, and Dell Technologies CEO Michael Dell—are set to participate in a proposed deal to keep TikTok running in the United States under American control.
Trump credited these figures as “American patriots” and expressed confidence in their stewardship of the social media giant, which boasts 170 million American users. “I think they’re going to do a really good job,” Trump said, emphasising TikTok’s role in helping him connect with young voters during the 2024 presidential election cycle.
According to sources, the anticipated agreement would see TikTok’s US assets majority-owned by American investors. The company would operate as an independent American entity, overseen by a board featuring six Americans with national security and cybersecurity credentials and just one ByteDance-selected member.
Chinese tech firm ByteDance would hold less than a 20 per cent stake in this joint venture, significantly curbing its influence.
Opportunity
Murdoch’s involvement is set to come through Fox Corp, rather than personal investment or a direct stake by other Murdoch-led entities such as News Corp, parent company of the Wall Street Journal and New York Post. The Murdoch family, renowned for its media clout and conservative viewpoints, will play a key role in the venture’s oversight. Notably, Rupert Murdoch, now 94, may also play a part.
Ellison, a seasoned Republican donor with longstanding ties to the Trump camp, and Michael Dell, leader of one of the world’s top tech firms, round out the list of headline investors. Dell did not publicly comment on his involvement at this time.
Trump has incorporated TikTok’s fate into broader US-China economic negotiations, describing the new arrangement as an opportunity to shape the future of technology policy and data security.
Despite bipartisan concerns over Chinese access to US user data—which led to a 2024 law demanding TikTok’s American assets be divested by January 2025—the Trump administration has opted for a negotiated solution rather than immediate enforcement.
Within the US borders
This move is part of a series of unconventional US interventions in private enterprise, including a 10 per cent federal stake in Intel and a conditional arrangement allowing Nvidia to supply AI chips to China in exchange for a share of sales.
Trump has defended these actions as necessary to protect American interests and technology leadership, while critics warn they could undermine traditional capitalist principles and US competitiveness.
Under the prospective deal, ByteDance will retain a minor role in board decisions, but the company’s operational control and data would reside firmly within US borders.
The agreement is seen by both supporters and critics as a defining moment for the intersection of technology, national security, and global business relations. White House officials expect the final arrangements to be formalised in the coming weeks.
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