TikTok, Silver Lake and Oracle
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TikTok deal will be signed soon
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This clearly is an expansion of Oracle's original business, and now it looks as if this tech giant may be expanding further: Oracle, as part of a consortium, may take a stake in TikTok, according to press reports. China's ByteDance, TikTok's owner, has been under pressure from the U.S. to divest its U.S. business or face a shutdown in the country.
Investors are betting a TikTok acquisition could diversify Oracle’s revenue beyond its massive AI backlog, but with the deal’s final terms still opaque, the transaction is far from guaranteed.
TikTok’s capacity to totally and instantaneously shatter decades of neoconservative propaganda revealed what Jonathan Greenblatt, CEO of the Anti-Defamation League, would label Israel’s “TikTok problem”: that the app exposes a generation of Americans to too much information unapproved by the CIA and Mossad.
Oracle shares rose Tuesday on a report that the software firm is among a consortium of companies that would let Chinese-owned TikTok to continue operating in the U.S.—if a “framework deal" between Beijing and Washington is finalized.
Larry Ellison is the second richest person in the world. The Oracle co-founder net worth is about $380 billion following a 36% surge in Oracle shares. He has
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Americans to hold six of seven TikTok US board seats under Washington-Beijing deal
Under a new arrangement, Americans will fill six of seven board seats guiding TikTok’s US unit, while ByteDance will appoint the last member. This structure seeks to bolster US oversight of data security and app management.
Oracle, Silver Lake, and Andreessen Horowitz are set to acquire a majority stake in TikTok's US operations, significantly reducing ByteDance's ownership.
Oracle has long led acquisition discussions, and was set to acquire the business in partnership with Walmart during a separate ban attempt under Trump's first term. While that deal fizzled with Trump's election loss, TikTok moved its US cloud services to Oracle in an attempt to assuage national security fears.