President Donald Trump has confirmed that media moguls Rupert Murdoch and his son Lachlan Murdoch are part of a consortium of U.S. investors seeking to acquire control of TikTok’s U.S. operations. In an interview with Fox News’ “The Sunday Briefing,” Trump also named Oracle chairman Larry Ellison and Dell Technologies founder Michael Dell as key participants in the deal, referring to the group as “really great people, very prominent people” and “American patriots.”1 This development marks a significant step in the long-running effort to resolve national security concerns surrounding the app’s Chinese ownership by transferring its U.S. operations to a U.S.-led entity.
The push for a sale stems from a law passed by Congress in April 2024, which cited national security concerns over the app’s ownership by the Chinese company ByteDance. The law mandates a sale to a U.S. entity or faces a ban, a deadline President Trump has repeatedly extended.2 According to a person familiar with the negotiations, the investment from the Murdoch side would come from Fox Corporation itself, not the Murdochs as individual investors. This move is seen as a strategic effort by Fox Corp. to boost its digital media investments to offset declines in broadcast television.3
Structure of the Proposed TikTok Deal
The White House has outlined a specific structure for the proposed acquisition designed to address the core national security issues. White House Press Secretary Karoline Leavitt, in a separate Fox News interview, detailed the plan. Oracle, the company founded by consortium member Larry Ellison, would be responsible for the app’s U.S. data and security, building on its existing role hosting TikTok’s U.S. data since 2020.4 A new seven-seat board would be established to control the U.S. app, with six of those seats held by Americans, ensuring U.S. majority control. The algorithm and user data would be placed under U.S. control, with reports indicating the plan involves U.S. users migrating to a new app running on a U.S.-designed algorithm based on the original.5 ByteDance would retain a minority stake of less than 20% in the new U.S. entity.6
Current Status of Negotiations and Political Context
As of September 2025, the commercial terms of the deal have been agreed upon, but the final agreement awaits signature between the two private parties. U.S. Treasury Secretary Scott Bessent confirmed that while the commercial terms are set, the deal is not yet finalized.7 President Trump stated he had a “very productive call” with Chinese President Xi Jinping, during which they discussed “the approval of the TikTok Deal,” suggesting high-level diplomatic involvement in overcoming the final hurdles.8 Trump refused to disclose the purchase price, only characterizing it as a “tremendous amount of money.”9
The involvement of the Murdochs introduces a layer of legal irony, as Trump is currently suing Rupert Murdoch and the Wall Street Journal (owned by Murdoch’s News Corp) for $10 billion over a report detailing Trump’s alleged ties to Jeffrey Epstein.10 Politically, Trump has openly credited TikTok with helping him connect with young voters and win the 2024 election, stating he was “a little prejudiced” in its favor on advice from the late conservative activist Charlie Kirk. This personal and political stake contrasts with the initial legislative push for a ban, which some progressive lawmakers, like Rep. Maxwell Frost (D-FL), have criticized in light of the evolving deal.11
Composition of the Investor Consortium
The consortium is composed of prominent U.S. business figures and investment firms. Alongside Larry Ellison, Michael Dell, and Fox Corporation, the group includes the private equity firm Silver Lake and the venture capital firm Andreessen Horowitz.12 This combination of technology expertise, media influence, and significant capital represents a powerful coalition positioned to take control of one of the most popular social media platforms in the United States.
| Entity/Individual | Role/Company | Reported Involvement |
|---|---|---|
| Larry Ellison | Chairman, Oracle | Data and security management via Oracle |
| Michael Dell | Founder, Dell Technologies | Investor |
| Fox Corporation | Media Conglomerate | Corporate investor (not Murdochs individually) |
| Silver Lake | Private Equity Firm | Investor |
| Andreessen Horowitz | Venture Capital Firm | Investor |
The confirmation of this high-profile investor group signals that the long-awaited resolution to the TikTok ownership saga may be imminent. The deal, as structured, aims to satisfy the congressional mandate by placing control of U.S. user data and the platform’s operation firmly in American hands, thereby avoiding an outright ban. The involvement of major U.S. corporations indicates a significant shift in the platform’s governance and strategic direction, should the agreement be formally signed in the coming days as anticipated by the White House.
