ByteDance board member says TikTok deal nears completion, solution expected by weekend

ByteDance board member and General Atlantic CEO Bill Ford said the company is actively discussing a TikTok deal to prevent the app from being banned in the US, according to a report by Axios . He made the comments Wednesday during an event in Davos, Switzerland. Meanwhile, President Donald Trump recently expressed openness to the idea of either Elon Musk or Oracle owner Larry Ellison acquiring TikTok.

Musk is expected to play a significant role in a future Trump administration, while Oracle serves as TikTok’s cloud service provider in the US. Trump stated that without a US operating license, TikTok would be “worthless,” but with one, it could be valued at $1 trillion. He added that whoever buys the company and donates half of it to the US would receive the license.



Analysts estimate TikTok’s US business is valued at around $50 billion . On his first day in office, Trump signed an executive order granting TikTok a 75-day extension. However, even if TikTok were willing to sell in the future, it would still face restrictions from China’s export control list, introduced in 2020, which regulates the sale of its algorithm.

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