Trump supports a TikTok acquisition by Oracle, whose chairman is a major donor
President Trump backed an Oracle acquisition of Chinese-owned video app TikTok, which has until November 12 to sell off its US business or face a ban.
Trump told reporters on Tuesday that Oracle was "a great company" and that it "could handle it." He added that Oracle had until mid-September to conclude a deal for TikTok. Oracle's cofounder and executive chairman, Larry Ellison, is a Trump supporter who held a fundraiser for the president in February 2020.President Trump has backed Oracle's bid to buy TikTok, the popular Chinese-owned video app that must sell its US business within months or face a ban in the country.that the software giant had entered the race to buy TikTok. It is working with US VC firms such as Sequoia Capital and General Catalyst, both investors in TikTok parent ByteDance.
Asked on Tuesday what he thought of Oracle, Trump said: "Well, I think Oracle is a great company, and I think its owner is a tremendous guy. He's a tremendous person. I think that Oracle would be certainly somebody that could handle it. Yeah. We gave them until September 15." Trump appears to be referring to Oracle cofounder and executive chairman Larry Ellison, who owns more than a billion shares in Oracle. He is a high-profile Trump supporter, and held a fundraiser for the president in February,
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