Larry Ellison, Oracle's Chairman and founder, is an ardent supporter of Trump and has raised money for the president. Oracle has close ties to the president, and some say it's one reason why it beat out a deep-pocketed and well-positioned rival such as Microsoft. It's a win for Trump supporter: Oracle founder Larry Ellison 'It's not any of the various options the administration floated over time.'

'I'm a little surprised at how far they were willing to go to settle,' said former State Department official Jim Lewis, who studies technology policy at the Center for Strategic and International Studies, a think tank. Yet the most serious one seems to have been made by the White House, despite the president's proclamations, experts say.

The newly-formed TikTok Global will have an ownership structure where software company Oracle and Walmart will jointly command 20% and 80% stays in ByteDance's grip.īoth sides made concessions. The agreement, however, does not remedy the Chinese-ownership problem. and 'will have nothing to do with China,' the president said. A new company would be incorporated in the U.S. And so, a review of TikTok's data privacy and security appeared reasonable.īut on Saturday a striking thing happened: Trump took a victory lap for signing off on a last-ditch deal to rescue TikTok, boasting that the China problem had been solved. But national security experts on both sides of the aisle in Washington agreed that China's authoritarian regime is untrustworthy and has almost unfettered access to private business in the country. The White House never offered any real proof to support its fear that TikTok is a Chinese surveillance tool. So the president repeatedly declared that TikTok needs to free itself from ByteDance's control, or be shut down in the U.S. Trump's logic went something like this: Since TikTok's corporate parent company ByteDance is headquartered in Beijing, TikTok could be used as an arm of the Chinese Communist Party to spy on American citizens or cause other mischief. Since July, President Trump has turned a wildly successful viral video app TikTok into his favorite punching bag. Sheldon Cooper/SOPA Images/LightRocket via Getty Images companies Oracle and Walmart to keep TikTok alive, but the agreement does not accomplish what the president sought to achieve. President Trump said he approved a deal struck with U.S.

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