TikTok Tug-of-War: Trump Enlists Media Moguls and Tech Tycoons in Bid to Control App

US President Donald Trump is enlisting billions from America's most powerful business dynasties to seize control of TikTok's US operations.

In a move that fuses big tech, old media and political muscle, Trump has confirmed that a heavyweight consortium of investors including Oracle's Larry Ellison, Dell Technologies founder Michael Dell, and media moguls Rupert and Lachlan Murdoch is emerging as the leading contender to take charge of the wildly popular social media app.

The president has personally endorsed the multi-billion dollar bid, describing the group as a 'consortium of patriots' who will safeguard US data from foreign influence.

The plan, which would leave Chinese parent company ByteDance with only a minority stake, marks the culmination of months of high-stakes negotiations between Washington and Beijing.

The Ultimate Power Play

Trump first threatened to ban TikTok in the US over national security concerns, claiming the platform was a tool for Chinese surveillance. But since returning to power in January, he has repeatedly delayed the ban while searching for a deal that would place control in American hands.

The entry of Ellison and Dell brings technical expertise and deep pockets to the table, while the Murdochs' involvement thrusts one of the world's most powerful media families into the heart of social media.

'Larry Ellison is one of them. He's involved. This great guy, Michael Dell is involved. I hate to tell you this, but a man named Lachlan is involved. Do you know who Lachlan is?' Trump said during Fox's The Sunday Briefing. 'And Rupert is probably going to be in the group.'

For Rupert Murdoch, who built a global conservative media empire spanning the United States, Britain and Australia, the potential entry into TikTok is his family's boldest leap yet into the digital sphere. His eldest son Lachlan, who recently cemented control of Fox News and News Corp after settling a long-running family dispute, is expected to be a central figure in the consortium.

A Contentious Alliance

Critics have warned that shifting TikTok's US arm from foreign ownership to a billionaire-led consortium raises its own questions about political influence and control of online discourse.

Even within Trump's chosen circle, the relationship is not straightforward. The Murdochs' Wall Street Journal is currently locked in a courtroom battle with the president over defamation, underlining the transactional and uneasy nature of the alliance.

The White House has said that the board of the new company would be dominated by American citizens and hinted that a deal could be signed 'in the coming days'. But legal and political hurdles remain, with lawmakers and regulators expected to scrutinise every detail.

What Comes Next

If finalised, the agreement would set a precedent for how Washington deals with foreign-owned tech giants in the future. For Trump, it represents not just a national security play but a political power move, aligning his administration with a cadre of billionaires who wield enormous influence over technology, business and media.

Whether the consortium delivers on its promise to protect American users or merely reshapes TikTok under a new set of powerful interests could define the next chapter of the platform's global story.