Oracle would reportedly control TikTok's data collection, algorithm, and software updates, but Chinese owner ByteDance would maintain a minority stake.

The plan to save TikTok involves software company Oracle and a group of outside investors effectively taking control of the app's global operations, two sources with

By Dawn Chmielewski, Kanishka Singh and Milana Vinn NEW YORK/WASHINGTON (Reuters) -The administration of U.S. President Donald Trump is working on a plan to save TikTok that involves tapping software company Oracle and a group of outside investors to effectively take control of the app's operations,

Others who have reportedly considered buying TikTok include Elon Musk, real estate billionaire Frank McCourt, and Shark Tank host Kevin O’Leary. Trump recently said he would like Larry Ellison, who co-founded Oracle, to buy the platform.

The Trump administration is negotiating a deal that would see Oracle take over TikTok alongside new U.S. investors, according to a report in NPR.

The Trump administration is working with Oracle and investors like Microsoft to save TikTok, allowing ByteDance to keep a minority stake. Meetings are ongoing to finalize the deal, with a potential $200 billion price tag and oversight by Oracle to reduce Chinese ownership.