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Larry Ellison, Lachlan Murdoch, and Michael Dell Join Forces in TikTok U.S. Deal
Larry Ellison, Lachlan Murdoch, and Michael Dell Join Forces in TikTok U.S. Deal
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BTCCSquare news:
President Donald TRUMP revealed on Fox News' "Sunday Briefing" that Oracle co-founder Larry Ellison, Dell Technologies CEO Michael Dell, and media scion Lachlan Murdoch will play pivotal roles in TikTok's U.S. operations. The announcement follows negotiations with Chinese President Xi Jinping, aiming to transfer 80% of TikTok's U.S. assets to American ownership.
The proposed restructuring WOULD reduce ByteDance's stake below 20%, addressing national security concerns. A new seven-member board—with six American directors—will oversee the U.S. entity. Ellison's involvement builds on Oracle's existing partnership with TikTok, which has hosted U.S. user data since 2020.
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