ByteDance Board Member Anticipates TikTok Deal Resolution by Weekend
ByteDance board member and General Atlantic CEO Bill Ford has revealed that discussions are underway to finalise a deal for TikTok, aiming to avert a potential ban in the US. Ford shared this update during an event in Davos, Switzerland, as reported by Axios.
In recent developments, President Donald Trump has shown willingness for either Elon Musk or Oracle owner Larry Ellison to acquire TikTok. Musk is anticipated to have a significant role in a future Trump administration, while Oracle currently provides cloud services for TikTok in the US. Trump emphasised the importance of a US operating license for TikTok, suggesting that it could be valued at $1 trillion with the license. He also mentioned that the buyer willing to donate half of the company to the US would secure the license. Analysts estimate the value of TikTok's US operations at approximately $50 billion.
Upon assuming office, Trump signed an executive order granting TikTok a 75-day extension. However, even if TikTok agrees to a sale in the future, it would still encounter obstacles from China's export control list, implemented in 2020, which oversees the sale of its algorithm.
ByteDance board member Bill Ford discusses ongoing TikTok deal negotiations
President Trump open to Elon Musk or Larry Ellison acquiring TikTok
Trump highlights the significance of a US operating license for TikTok's value
Source: TECHNODE
