Multiple parties are currently vying to acquire TikTok's US operations, with Oracle emerging as the frontrunner in negotiations that must conclude within 30 days according to President Trump's executive order.

The proposed deal structure would allow ByteDance, TikTok's Chinese parent company, to maintain a minority stake while Oracle would oversee the app's algorithm, data collection, and software updates. Several prominent figures and companies have expressed interest in acquiring TikTok:

• Oracle - Current frontrunner in negotiations
• Elon Musk
• MrBeast (YouTube creator)
• Kevin O'Leary
• Steven Mnuchin
• Perplexity AI

Current US investors in ByteDance may participate in the deal, including:

• Susquehanna International Group (Jeff Yass)
• General Atlantic
• Kohlberg Kravis Roberts (KKR)
• Sequoia Capital

Perplexity AI has submitted a revised merger proposal to create "NewCo," offering the US government up to 50% ownership upon future IPO. This proposal competes with Oracle's bid, which focuses on providing oversight while maintaining partial ByteDance ownership.

The decision timeline is critical, as Trump's executive order provides a 75-day extension for TikTok to either complete a sale to a US company or face a ban. A final decision is expected within 30 days, with the administration actively working with multiple parties to ensure TikTok's continued operation in the United States while addressing national security concerns.

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