President Donald Trump reaffirmed his stance that the U.S. should own half of TikTok. He also expressed support for Elon Musk or Larry Ellison purchasing the app.
On Monday, Trump signed an executive order giving TikTok more time. The order allows the platform's Beijing-based owner, ByteDance, to sell the app to an American buyer or shut it down in the U.S.
During a press conference for the Stargate AI project, Trump was asked about Musk buying TikTok. "I would be if he wanted to buy it, yeah," Trump said. He added, "I'd like Larry to buy it, too," as he nodded toward Ellison.
Trump mentioned meeting TikTok's current owners. He told the press, "I have the right to make a deal. So, the deal I'm thinking about…" Then, turning to Ellison, he said, "Larry, let's negotiate in front of the media."
The president explained his proposal. Someone would buy TikTok, give half to the U.S., and receive a permit to operate. "They'll have a great partner," Trump added.
Turning back to Ellison, Trump said, "Sounds reasonable. What do you think?" Ellison replied, "Sounds like a good deal to me, Mr. President." Trump then joked, "He can afford it, too."
TikTok shut down its U.S. operations on Saturday. But it reopened on Sunday after Trump assured he’d extend the deadline for a deal protecting national security.
Trump later wrote on social media, "By doing this, we save TikTok, keep it in good hands, and allow it to stay up. Without U.S. approval, there is no TikTok. With approval, it’s worth hundreds of billions—maybe trillions."