Murdoch Family and Tech Leaders Poised to Invest in TikTok's U.S. Operations

President Donald Trump announced that media moguls Rupert and Lachlan Murdoch, along with tech executives Larry Ellison and Michael Dell, are expected to invest in TikTok's U.S. operations. This move is part of a deal transferring ownership from China's ByteDance to American investors.

In a Fox News interview, Trump stated, "A man named Lachlan is involved... Lachlan Murdoch... Rupert [Murdoch] is probably gonna be in the group, I think they're going to be in the group."

The proposed agreement would see TikTok's American assets transferred to a U.S.-based entity, with Americans holding six of seven board seats and controlling the app's algorithm. ByteDance would retain less than 20% ownership.

White House Press Secretary Karoline Leavitt indicated that the deal is nearing completion, stating, "So all of those details have already been agreed upon, now we just need this deal to be signed and that will be happening, I anticipate, in the coming days."

This development follows a 2024 U.S. law requiring ByteDance to divest TikTok's U.S. operations by January 2025. The app briefly went offline in the U.S. before Trump extended the deadline to facilitate the sale.

The involvement of prominent American investors aims to address national security concerns and ensure TikTok's continued operation in the U.S.