Trump says Murdochs may join investor group for US TikTok ownership

President Trump indicated that Rupert and Lachlan Murdoch could be among the investors in a deal to bring TikTok under U.S. ownership, alongside figures like Larry Ellison and Michael Dell.

21 sept 2025 - 20:37 • 3 min read

President Trump has indicated that media moguls Rupert Murdoch and his son Lachlan, CEO of Fox Corporation, may be part of the investor group looking to acquire U.S. operations of the popular video app TikTok.

In an interview aired on Sunday, Trump stated that Lachlan Murdoch is involved in the potential deal and that both he and Rupert Murdoch are "probably going to be in the group." The investment would be made by Fox Corporation, the conservative media company that operates Fox News and the Fox broadcast network, according to a person familiar with the talks.

This potential investment comes as TikTok's Chinese owner, ByteDance, works to finalize a deal that would separate the app's U.S. business from its parent company. This separation is a requirement of a federal law passed last year due to national security concerns over TikTok's ties to China. President Trump has previously delayed the enforcement of this law multiple times.

Negotiations for the deal have been ongoing for months, with Trump noting last week that significant progress had been made, including support from Chinese leader Xi Jinping. New investors are expected to dilute Chinese ownership to less than 20 percent to comply with the law.

Trump also named Larry Ellison, co-founder of Oracle, and Michael Dell, CEO of Dell Technologies, as being involved in the proposed transaction. Oracle, which already provides computing resources for TikTok, is expected to take a stake in the new entity, while Dell is also considering an investment, according to sources familiar with the situation.

Trump suggested that these potential investors "love this country" and would perform well in their roles. The prospect of the Murdochs' involvement raises questions about the potential influence on the app's content, given their history of operating media businesses with a conservative leaning. Ellison is also a supporter of Trump.

Other major investors in ByteDance, such as General Atlantic and Susquehanna International Group, reportedly plan to remain involved in the new company. Silver Lake, a private equity firm, has also engaged in discussions about investing. Dell has a prior working relationship with Silver Lake.

The proposed deal reportedly includes unique elements, such as a multibillion-dollar transaction fee to the U.S. government, a structure reminiscent of other initiatives by Trump in U.S. deal-making.

White House press secretary Karoline Leavitt previously stated that six Americans would sit on the new company's seven-seat board, with Oracle controlling data and privacy. The U.S. would also have control over the app's data and algorithm in America, which Leavitt described as putting "America first."

The law requiring ByteDance to divest TikTok's U.S. operations was passed under the administration of former U.S. President Joe Biden, with bipartisan support due to concerns that Beijing could access American users' data. Some U.S. politicians have linked the app to growing support for Palestinians and opposition to Israel among young Americans.

Trump had previously attempted to ban TikTok during his first term but later pledged to "save" the app during his 2024 re-election campaign. The Trump administration had previously tied negotiations over TikTok to broader trade discussions with China, which has consistently denied allegations of pressuring apps like TikTok for state intelligence.