Trump eyes TikTok shakeup: Oracle-led deal nears as M2 app prepares for US launch, report says
While TikTok hasn't officially commented on the new app or the sale talks, reports suggest that a group of US-based investors, led by Oracle, is close to reaching a deal to acquire TikTok's US operations. Under this plan, ByteDance would still hold a minority stake, while the majority control would shift to non-Chinese entities, satisfying the conditions laid out under the new Protecting Americans from Foreign Adversary Controlled Applications Act.It's not the first time such a deal has been proposed. An earlier attempt to spin off TikTok's American business was shelved after China raised objections, especially following the Trump administration's decision to impose steep tariffs on Chinese goods. With geopolitical tensions still in play, any new agreement will require approval from the Chinese government — something that could delay or derail the process.In the meantime, ByteDance seems to be preparing a backup strategy. The new M2 app would offer the same experience but under a different operational structure, making it compliant with new legal requirements. According to reports, when M2 launches, the original TikTok app would eventually be removed from US app stores. The switch is being planned in a way that ensures users are not immediately cut off, but they will eventually have to download and move to the new version.advertisementAdding to this development, the Wall Street Journal reported that Oracle has signed a unique agreement with the US federal government, offering significant discounts on its cloud software. This move could give Oracle added leverage in the TikTok deal, especially as cloud infrastructure will likely be central to the app's operations post-sale.Despite the looming deadlines and political back-and-forth, TikTok has only been briefly unavailable in the US — a one-day shutdown earlier this year. But with time running out and pressure mounting, ByteDance appears to be moving swiftly to stay in the market through restructuring and technical adjustments.- Ends
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Economic Times
22 minutes ago
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tsla: Elon Musk's net worth dips by $14 Billion in a single day, Here's what investors are saying
Wall Street Grows Wary of Musk's Political Maneuvers Elon Musk Net Worth Takes a Major Hit ADVERTISEMENT Tesla's Sales and Shareholder Confidence Slipping ADVERTISEMENT Musk-Trump Rift Adds Fuel to the Fire The America Party: Strategic Move or Political Overreach? ADVERTISEMENT Musk Political Party Yet to Find Favor Among Investors FAQs Why did Elon Musk lose $14 billion in a single day? What is the 'America Party'? Tech billionaire Elon Musk, known for his sweeping influence in both the corporate and political arenas, suffered a sharp blow to his personal wealth and business standing on Monday. With Tesla shares tumbling 7 per cent, Musk's net worth fell by approximately $14 billion in a single day—an erosion tied closely to Wall Street's growing unease over his escalating political drop follows Musk's announcement of a new political outfit, the 'America Party,' and his increasingly public rift with U.S. President Donald Trump, a development that analysts say has distracted from Tesla's core business performance, as per a report by announcement of Musk's political venture comes at a time of volatility in the electric vehicle (EV) sector and heightened scrutiny of regulatory frameworks under the Trump administration. In a client note issued Monday, William Blair analyst Jed Dorsheimer downgraded Tesla stock from 'Buy' to 'Hold,' citing what he called a 'less favourable federal regulatory credit environment' resulting from recent legislation.'Investors are growing tired of the distraction,' Dorsheimer wrote, referring to Musk's increasing political theatrics and public feuds. The sentiment was echoed across trading desks, with Tesla's shares plunging by $24 apiece during an otherwise uneventful day for the broader Tesla's market value taking a dip, Musk's personal wealth—which remains the largest in the world—now stands at $391 billion, down from $405 billion the previous day, according to Forbes estimates. Despite the decline, he still maintains a commanding lead of over $100 billion compared to the next richest net worth slide comes amid a 32% drop in Tesla stock since President Trump's second term began—a stark contrast to the 4% gain logged by the S&P 500 benchmark in the same struggle is not confined to the stock market. Analysts at J.P. Morgan reported Monday that the company is headed toward its worst annual vehicle delivery numbers since 2022. Data from the first two quarters of 2025 reveal significant declines in deliveries, attributed in part to waning public sentiment towards Musk polling data compiled by Silver Bulletin indicates that 55% of Americans now hold an unfavourable view of Musk, up from 45% at the end of last year. The souring of opinion spans party lines—Democrats, Republicans, and independents alike have all expressed declining confidence in the Tesla CEO, as per a report by Forbes.'The concern isn't just political,' noted Wedbush analyst Dan Ives, a long-time supporter of Tesla stock. 'Musk diving deeper into politics and now trying to take on the Beltway establishment is exactly the opposite direction that Tesla investors and shareholders want him to take.'Initially viewed as a strategic alliance between two high-profile power players, the Musk-Trump relationship has deteriorated rapidly over the past few weeks. Musk reportedly contributed $288 million toward Trump's re-election campaign last year, positioning himself as a key political their alignment began to unravel following disagreements over Trump's recently signed fiscal package, which the Congressional Budget Office warns could expand the national debt by $3.4 trillion. Their feud reached a public climax last week when Trump labelled Musk a 'TRAIN WRECK' in a scathing post, while Musk retaliated by accusing the Trump administration of misrepresenting the controversial Epstein Files—a post he later launch of the 'America Party' is seen by some observers as an effort to channel public dissatisfaction into political capital. However, financial markets appear unconvinced, interpreting the move as a distraction from Tesla's operational priorities at a time when competition in the EV market is a twist of irony, Musk's losses on Monday—nearly $14 billion—were nearly equivalent to the total market capitalization of Rivian, Tesla's closest American rival in the EV Musk doubles down on political ambition, industry watchers and financial analysts are raising alarms over the implications for Tesla's long-term trajectory. With analysts now sounding cautionary notes and shareholders increasingly vocal in their discontent, questions remain about how Musk plans to balance corporate leadership with his emerging political the 'America Party' may yet shape U.S. political dynamics, its immediate impact on investor sentiment has been unambiguously negative. 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23 minutes ago
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Multilateralism must Trump US-first policy
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30 minutes ago
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