Oracle's Bid to Steer TikTok Amid National Security Concerns

The Trump administration plans a deal where Oracle and outside investors take control of TikTok's global operations, with ByteDance retaining a minority stake. The move aims to address national security concerns over data misuse. However, the terms are still under negotiation.

The Trump administration is formulating a plan to save TikTok by transferring control of the app's global operations to Oracle and a consortium of outside investors, according to National Public Radio's report on Saturday.

The proposal, currently being negotiated by the White House, involves TikTok's China-based owner, ByteDance, holding only a minority stake while Oracle oversees key aspects like the app's algorithm and data collection. This cautious step follows U.S. concerns over data security, which nearly resulted in a TikTok ban or forced sale on national security grounds earlier this year.

Oracle's interest in acquiring a significant stake aligns with President Trump's intent for the U.S. to gain a substantial ownership position in TikTok. However, negotiations are ongoing, with terms still fluid, highlighting the deal's complexity and the political intricacies involved in garnering Congressional approval.

(With inputs from agencies.)