Trump to Hand Over TikTok US Operations to His Allies Amid Global Scrutiny

The TikTok Tussle: Trump's Unlikely Gift to His Friends In a shocking turn of events, President Donald Trump is reportedly on the verge of gifting one of the world's most popular social media platforms to his friends. The surprise deal would see the US operations of TikTok, owned by Chinese tech giant ByteDance, transferred to a consortium of wealthy investors, including Oracle and the Fox Corporation. As the news sent shockwaves through the tech industry, many are left wondering: what's behind this sudden change of heart? And what does it mean for the future of social media in America? To understand the complex web of events leading up to this deal, let's take a step back. In 2020, Trump's administration attempted to ban TikTok over concerns about its Chinese ownership and potential ties to the government. But despite efforts to block the app, it continued to grow in popularity among young Americans. Fast-forward to 2024, when Congress passed a law requiring TikTok to be sold to American operators or shut down. The clock was ticking for ByteDance to find a buyer, but Trump's return to office brought an unexpected twist. With his campaign attributing some of its success to TikTok's presence on the platform, Trump began to see the app in a new light. Sources close to the deal suggest that Trump's change of heart was influenced by the growing influence of young voters, who have become increasingly active on social media platforms like TikTok. As the president looked for ways to connect with this demographic, he may have seen an opportunity to not only save his own campaign but also to reward his friends and allies. So, who are these lucky recipients? Oracle, a tech giant led by Larry Ellison, is set to play a key role in the deal. The company has been working closely with Trump's team to develop a plan for TikTok's US operations, which would be run as a separate entity from ByteDance's Chinese parent. But what about the Fox Corporation? Why are they involved in this high-stakes game of social media poker? Sources suggest that Rupert Murdoch, the media mogul behind Fox News, sees an opportunity to expand his company's reach into the lucrative world of social media. With TikTok's massive user base and growing influence among young Americans, it's a prize worth fighting for. As the deal nears completion, many are left wondering about the implications for social media regulation in America. Will this new ownership structure bring greater transparency and accountability to the platform? Or will it simply enable Trump's friends to wield more control over the online narrative? One thing is certain: this deal marks a significant shift in the world of social media. As TikTok's US operations are transferred to American hands, we can expect to see changes in the way the app operates and the content it promotes. For now, the future of TikTok remains uncertain. But one thing is clear: Trump's gift to his friends has sparked a new era of intrigue and speculation in the world of social media. The Players Larry Ellison: Co-founder and CEO of Oracle, who will play a key role in managing TikTok's US operations. Rupert Murdoch: Media mogul behind Fox News, who sees an opportunity to expand his company's reach into social media. Donald Trump: President of the United States, who has changed his stance on TikTok after its growing influence among young voters. The Stakes Social media regulation: The deal raises questions about transparency and accountability in social media platforms. Influence and control: Will this new ownership structure enable Trump's friends to wield more control over the online narrative? Future of social media: What changes can we expect to see as TikTok's US operations are transferred to American hands? *Based on reporting by Vox.*