TikTok has sold part of its shares to Oracle, an American company, to avoid Trump’s ban in the US.
The trade war continues between the US and China. Trump had given numerous American companies until the 15th to stop offering services to other Chinese, such as TSMC. Last August, the TikTok application – which is so successful among teenagers – was going to be banned in the United States due to, according to Trump, a privacy violation and national security issues. It was then that some companies like Microsoft and Oracle were after him, trying to buy shares on American soil and thus be able to be partners of TikTok to control certain aspects that Trump dislikes.
Today a kind of partial acquisition of TikTok by Oracle was made public, making US users able to continue using the application as if nothing had happened and now having some control over what is shared and known in the app. Oracle CEO Larry Ellison is the world’s fifth-largest fortune teller and had previously shown his inclination to favor Trump., as with a fundraising campaign for Trump’s election as president, again. Perhaps this had something to do with Oracle being a benefactor of this operation instead of Microsoft, who has ensured that the terms and conditions of its proposal were more than fair and beneficial for TikTok consumers.