Trump Is Hoping for a ‘Bidding War’ on TikTok, Says Microsoft Now in the Game
Microsoft attempted to make a bid on TikTok during Trump’s first time in the White House when he tried to ban the app.
President Trump continues to weigh in on the pending fate of TikTok in America saying that software giant Microsoft is in talks to acquire the social media app.
The President also said he hopes to see a “bidding war” for the sale of the app’s operations in America, according to report from the Associated Press.
“I like bidding wars because you make your best deals,” he told a gaggle of reporters on Monday evening while aboard Air Force One. When asked by one member of the press if Microsoft was one of the potential buyers, Mr. Trump responded with, “I would say yes.”
Officials with Microsoft declined to comment. TikTok did not respond to a request for comment to the news service.
Upon taking office, Mr. Trump extended the deadline for TikTok’s owner, the Communist Chinese company ByteDance, to find new ownership by 75 days. He has also expressed interest in the potential buyer to give America a 50 percent stake in the company. It’s unclear whether he has mean control of the app going to government or another entity in America.
The rumors of Microsoft jumping into the fray is just the latest as other companies and individuals have come forward to make a bid.
Last week, Perplexity AI presented a proposal to merge with TikTok’s business stateside and would allow the American government to own up to 50 percent of the new entity.
Other investors who have come forward to express their interest in making a bid includes “Shark Tank” investor Kevin O’Leary, billionaire Frank McCourt, and Mr. Trump’s former Treasury Secretary, Steven Mnuchin. Mr. Trump has also said that “many people” have spoken to him privately about their desire to make an offer, according to the AP.
Microsoft has already attempted to make a bid on TikTok during Mr. Trump’s first time in the White House when he tried to ban the app.
Microsoft chief executive Satya Nadella said after the deal, which was made along with retail giant Walmart, had failed that the process was the “strangest thing I’ve ever worked on.”