TikTok's fate in the United States is approaching a critical decision point, with multiple high-profile parties vying to acquire the popular social media platform. President Trump has announced that a final decision will likely be made within 30 days.

Oracle has emerged as the frontrunner in negotiations, with a proposed deal structure that would:

• Allow ByteDance to maintain a minority stake
• Give Oracle oversight of the app's algorithm, data collection, and software updates
• Include participation from ByteDance's current US investors (Susquehanna International Group, General Atlantic, KKR, and Sequoia Capital)

Notable interested parties include:

• Elon Musk
• MrBeast (YouTube creator)
• Kevin O'Leary (with Frank McCourt's investor group)
• Steven Mnuchin
• Perplexity AI

Perplexity AI has recently revised its merger proposal, dubbed "NewCo," which would:

• Combine TikTok's US operations with Perplexity AI
• Allow up to 50% US government ownership upon future IPO
• Create a new entity separate from ByteDance

A source close to the Oracle negotiations told NPR: "The goal is for Oracle to effectively monitor and provide oversight with what is going on with TikTok. ByteDance wouldn't completely go away, but it would minimize Chinese ownership."

The decision comes as TikTok operates under a 75-day extension granted by Trump's executive order, requiring either a sale to a US company or facing a potential ban.

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