Larry Ellison’s Oracle is part of a new deal to own the US version of TikTok

A key ally of the Trump billionaire is now a partner in the social media platform TikTok. A group of investors, including Larry Ellison’s company Oracle, agreed to a $14 billion deal to give them control of the U.S. version of the platform, which is being spun off from ByteDance, a Chinese company. In 2024, Congress banned TikTok, citing national security concerns over its ties to China. But Trump had allowed the platform to continue operating while a deal was negotiated. Ellison is also the largest shareholder in Paramount, the parent company of CBS.