Last month, Donald Trump, current President of the United States, fueled an international business disaster that has rushed into the future of the world’s most popular video platform (TikTok) while using his office.
As Oracle seeks US approval for a landmark partnership with the short-form video app TikTok, experts say questions will intensify over President Trump’s political relationship with Oracle chairman and co-founder Larry Ellison https://t.co/LuFuOc6VpE
— CNN Business (@CNNBusiness) September 15, 2020
Oracle is looking for United States permission for a landmark dealing with the short-form video platform, popularly known as TikTok, officials say questions will escalate the political relationship of President Trump with Larry Ellison, co-founder, and chairman of Oracle.
Larry Ellison, one of the richest people in the world, has made extensive bridges with President Trump. Moreover, he has outspokenly shown his support for Donald Trump and allegedly managed a primary fundraiser for him where contributors who gave 100,000 USD were offered a chance to golf with the President.
Federal Election Commission data says that Safra Catz (Oracle CEO) shares close ties with Mr. President and has contributed more than 130,000 dollars for the reelection efforts of Trump this year. In 2016, Safra Catz assisted on the presidential transition team of Trump and she was, at a point, considered for a place inside the Trump administration. Larry Ellison and Safra Catz have helped Donald Trump’s industry operating teams devoted to economic restoration.
Oracle and Microsoft competing to acquire TikTok
Last month, President Trump felt little surprise when he publicly backed the prospect of the agreement which involves TikTok and Oracle. Meanwhile, Microsoft and Oracle are competing to obtain TikTok, with Microsoft looked broadly as the frontrunner. Furthermore, experts said that Oracle didn’t acquire in consumer services and not offers products in the social media circle.
On Sunday, sources described to CNN that the parent firm of TikTok (ByteDance) had preferred Oracle over Microsoft. Steven Mnuchin (Treasury Secretary) and Oracle confirmed the proposed agreement on Monday. TikTok, in a statement, said that it hoped the proposal would resolve the security concerns of the Administration.
Officials of the Administration have submitted a complaint that the video platform (TikTok) depicts risks to the national security because of the present ownership by a Chinese company (ByteDance). On the other hand, TikTok declined all the claims, said that it holds all American user’s data outside of China and even the information is not subject to China’s law. Also, cybersecurity specialists have described that there is no proof that TikTok has shared any information of its users with Chinese intelligence.
The expected partnership of TikTok with Oracle still be monitored by the American government. Although it remains ambiguous in case if those negotiations will be fixed ahead Trump administration block against TikTok gets effect on the 20th of September, Mnuchin described that the government will be observing the agreement this week.