Tech Brief (Sept. 22): Trump Says Murdoch Family May Be Involved in TikTok Deal
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Trump says Murdoch family may be involved in TikTok deal
On Sept. 21, U.S. President Donald Trump said on Fox News’ “The Sunday Briefing” program that media tycoon Rupert Murdoch and his son Lachlan may be involved in the TikTok deal. Trump also stated that Oracle founder Larry Ellison and Dell founder Michael Dell are involved in the transaction. On Sept. 19, President Xi Jinping said in a phone call with Trump that the Chinese government respects corporate intentions and is pleased to see a business negotiation succeed based on market rules, resulting in a solution that complies with Chinese law and balances interests.
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- Trump stated the Murdoch family, Larry Ellison, and Michael Dell may be involved in the TikTok deal; Xi Jinping indicated China’s support for a lawful business solution.
- Berkshire Hathaway has fully sold its BYD stake, gradually reducing holdings since 2022 from an original 225 million shares.
- China is investigating Weibo and Kuaishou for undesirable content on “hot-search” lists; authorities have imposed punishments and required corrections.
- Oracle
- Oracle, under the leadership of its founder Larry Ellison, is reportedly involved in the TikTok deal. This information was revealed by US President Donald Trump during a Fox News interview on September 21, 2024.
- Dell
- Dell's founder, Michael Dell, is reportedly involved in the TikTok deal. This information was shared by U.S. President Donald Trump on Fox News’ "The Sunday Briefing."
- Berkshire Hathaway
- Berkshire Hathaway, led by Warren Buffett, has divested its entire stake in BYD. Initially investing in 2008 by subscribing to 225 million H-shares at HK$8 per share, the company began reducing its holdings in 2022. By June of last year, its ownership in BYD's outstanding shares had fallen to under 5%.
- BYD
- BYD is a company in which Warren Buffett's Berkshire Hathaway had a significant equity investment. Berkshire Hathaway acquired 225 million H-shares of BYD in 2008 at HK$8 per share. However, Berkshire Hathaway has now completely sold off its remaining stake in BYD, having gradually reduced its holdings since 2022.
- Weibo is currently under investigation by China's cyberspace regulator for displaying a significant amount of "undesirable content" on its "hot-search" lists. This content includes hyping celebrity personal activities and trivial matters, disrupting the online ecosystem.
- Kuaishou
- Kuaishou is under investigation by China's cyberspace regulator for disrupting the online ecosystem. The Cyberspace Administration of China found that Kuaishou's "hot-search" lists displayed a large amount of undesirable content, including celebrity gossip and trivial matters. As a result, authorities have issued reprimands, warnings, and orders for correction.
- Le.com
- Jia Yueting, the founder of Le.com, has proposed a second creditor trust. Under this plan, he intends to allocate half of his future personal earnings to repay his outstanding debts under Chinese law. This initiative follows the collapse of the LeEco ecosystem in 2017 due to a funding crisis.
- Faraday Future
- Jia Yueting, the founder of Le.com, moved to the U.S. in 2017 to focus on his Faraday Future project after LeEco's collapse. He is currently proposing a new trust to repay his remaining debts.
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