Trump says Lachlan and Rupert Murdoch might invest in TikTok deal

This weekend, discussions surrounding a potential deal for TikTok have gained momentum, with President Donald Trump suggesting that media moguls Rupert and Lachlan Murdoch may play a significant role. In an interview with Fox News, 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." In addition to the Murdochs, Trump indicated that prominent figures such as Larry Ellison, the executive chairman of Oracle, and Michael Dell, CEO of Dell Technologies, are also likely candidates for involvement in the deal. Although Trump did not clarify whether these potential investments would be personal or corporate, reports from Deadline suggest that Fox Corp, the parent company of Fox News and led by Lachlan Murdoch, is indeed in negotiations to join the group of investors backing TikTok’s U.S. spinoff from its Chinese owner, ByteDance. White House Press Secretary Karoline Leavitt provided further insight on Fox News, noting that an agreement has been reached—albeit not yet signed—that would allow TikTok’s operations in the U.S. to be under majority American ownership. Leavitt pointed out that Americans would occupy six out of seven board seats in the new structure, ensuring U.S. control over the app’s algorithm, according to Bloomberg. Leavitt expressed optimism, stating, "All of those details have already been agreed upon; now we just need this deal to be signed, and that will be happening in the coming days." Bloomberg also reported that among the new investors expected to join the TikTok venture are Oracle, venture capital firm Andreessen Horowitz, and private equity firm Silver Lake Management, with Oracle taking charge of the app’s security. Reports indicate that ByteDance would retain a minority stake of less than 20% in the restructured company. Following a federal bill that was poised to ban TikTok in January, just before Trump’s anticipated return to office, the app briefly faced restrictions in the U.S. However, Trump had extended the deadline for ByteDance to divest the app to new ownership multiple times. On Friday, Trump claimed that Chinese President Xi Jinping had approved the deal, and TikTok expressed gratitude to both Xi and Trump for their efforts to keep the app operational in the United States. In a statement, ByteDance confirmed, "We will work in accordance with applicable laws to ensure TikTok remains available to American users through TikTok U.S." This article has been updated to include details of Trump’s remarks regarding Rupert and Lachlan Murdoch's involvement.