Overview

• President Donald Trump identified Larry Ellison, Michael Dell, Lachlan Murdoch and Rupert Murdoch as potential investors in TikTok’s U.S. operations.
• The Wall Street Journal, citing a White House official, reports Trump is expected to approve the deal by executive order this week, with users continuing to access the service through the same app.
• A Reuters-detailed draft agreement envisions all U.S. user data being stored on Oracle-run cloud infrastructure.
• The proposal calls for TikTok’s recommendation algorithm to be protected, retrained and operated in the United States outside ByteDance’s control.
• Governance terms described in the draft include a seven-member board with ByteDance limited to one seat and under 20% ownership, while the White House says a signing is expected within days and ByteDance signaled cooperation after Trump’s call with China’s Xi Jinping.