Investing.com -- President-elect Donald Trump has announced his intention to issue an executive order on Monday that will extend the period before the law's prohibitions on TikTok take effect. The move is aimed at providing more time to strike a deal that would ensure national security.
In addition to extending the period, the executive order will also confirm that no company will be held liable for helping to keep TikTok in operation before the order. Trump urged companies not to allow TikTok to go dark, emphasizing the importance of the platform for showcasing events such as his upcoming Inauguration on Monday.
Trump further expressed his desire for the United States to hold a 50% ownership stake in a joint venture. The goal is to keep TikTok running, maintain it under responsible ownership, and ensure its survival. As per Trump, without U.S. approval, there's no TikTok, but with it, the platform could be worth hundreds of billions or even trillions of dollars.
The President-elect is considering a joint venture between the current owners and/or new owners, where the U.S. would have a 50% ownership. This venture would be established between the U.S. and whichever purchasing party is chosen.
On who could potentially own part of TikTok, Elon Musk - a close friend of Trump - has been rumored as a possible suitor. In addition, an analyst at Morgan Stanley (NYSE:MS) recently speculated that Amazon (NASDAQ:AMZN) could be a buyer.
Another buyer that could emerge is entrepreneur Jesse Tinsley. On Saturday, Tinsley said he is leading a group that submitted an all-cash offer to acquire TikTok and hinted that Mr. Beast is involved with his group.