Trump says he approved TikTok deal with Walmart, Oracle

[Yo_Mama_Been_Loggin]

Source: ABC News

Donald Trump told reporters at the White House that a deal has been made on TikTok with Walmart and Oracle, calling it a "great deal for America."

"We have some very big news on TikTok," Trump said Saturday. "TikTok is moving along. We’re dealing with Oracle, which you know of, Larry Ellison. And we’re dealing with, as a combination, Walmart -- Walmart, a great company, a great, American company. The security will be 100%. They’ll be using separate clouds and a lot of very, very powerful security. And they’ll be making about a $5 billion contribution toward education."

"They’re going to be setting up a very large fund for the education of American youth, and that will be great," he added. "That’s their contribution that I’ve been asking for. But we’ll see whether or not it all happens."

When asked by a reporter if he approved the deal, Trump said, "I approve the deal in concept, yes."


Read more: https://www.msn.com/en-us/news/politics/president-trump-says-he-approved-tiktok-deal-with-walmart-oracle/ar-BB19d7q2?li=BBnb7Kz&ocid=DELLDHP

---

You'll still get punked by the teens who use TikTok

[msongs]

1. not sure how he has any authority to do any of this nt

[riversedge]

14. I do not either. How can a Pres of the US get involved. ???

[ProfessorGAC]

21. He Doesn't

There's no presidential approval needed for an acquisition or merger.
It either is within FTC & SEC regulations, or it's not.
If it's within legal bounds, the deal is completed.
As usual, he's making stuff up.
I was involved in due diligence efforts in acquisitions.
In 2 cases, it was scrutinized by FTC, because the company i worked for was already over 65% of the US market.
But, neither of those went to the White House for approval.

[dweller]

2. folds like a cheap walmart suit

what happened to sunday's ban ??

what a noob, and a maroon ..

✌🏼

[ananda]

3. That's bizarre -- a $5b contribution to "education"?

Would that be "patriotic education" or just a slush
fund for Trump, family, and cronies to loot???

[bronxiteforever]

11. +1 to fund the Hitler Youth Program

[Turbineguy]

4. On Bloomberg they talked about

the complicated aspect of this and said that trump may be setting up corporations to lose billions in their international operations from other countries requiring what we require under this deal.

Since trump doesn't think beyond what's good for trump, this may be a problem.

[iluvtennis]

5. It isn't clear why Walmart got involved in this. Seems like Oracle could have handled all of

backend cloud systems and software security.

[Budi]

6. Oracle's ties to Mr. Trump are deep. (As in, pay to play & follow the money)

Trump makes no business deal without it benefitting him.


As always, follow the money. Oracle was rewarded for supporting Trump.
Oracle wanted to be a player like Microsoft.
Oracle wanted TikTok & Trump strong-armed a deal.
Question is: How much is Trump's cut in the deal?


FROM NY TIMES:

Is This How the TikTok Saga Ends?

https://www.google.com/amp/s/www.nytimes.com/2020/09/14/business/dealbook/tiktok-oracle-deal.amp.html

SNIP
And then there was Oracle?
• As Andrew notes, Oracle’s bid resembles Microsoft’s original proposal of serving as a technology partner and minority owner — something that President Trump rejected, saying that TikTok’s U.S. arm had to be sold altogether.

How much did politics play a role?

Oracle’s ties to Mr. Trump are deep. Its co-founder, Larry Ellison, has raised money for Mr. Trump, while its C.E.O., Safra Catz, was the only major tech executive to serve on the president’s transition team.
Last month, Mr. Trump publicly supported Oracle’s efforts, calling it a “great company.”

More...

[yaesu]

7. insider trading stocks right in the open, guess the SEC is compromised also. nt

[DaisyTom]

8. pure fucking extortion

[StClone]

9. Welcome to DU and you hava grasp of the situation

Don the Con T-Wrecks at his worst doing Satan's work.

[Mr.Bill]

10. Huge claims and promises followed by

"We'll see what happens". Classic.

[displacedtexan]

15. Exactly!

There’s no actual deal. At least, not yet. This is one of Trump's last minute, before his artificial deadline, threats he's famous for. The tell is his signature "We'll see what happens," as you pointed out.
Oracle & Walmart aren't going to rush in and buy something this big that millions of users (Like me) will abandon for a new Non-Trumpian platform just to spite Trump.

[kimbutgar]

12. I wonder how much kickback he got in a unnamed bank account?

He said himself the government meaning him should get a percentage of the deal .

[DinahMoeHum]

16. In other words. . ."wet my beak"

[C_U_L8R]

13. Again, Trump creates a mess

and wants credit for fixing it. This is bullshit.

[ET Awful]

17. So . . . in order to keep China from getting information via Tik Tok, he supports selling it to

one of the largest customers of Chinese goods and one of he largest exporters of jobs to China?

[duforsure]

18. trumps shaking down businesses now,

Should make every one of them realize he's doing the same thing as putin has done in russia . Embezzle money from the government and businesses. And how putin has gotten billions and billions from it. Only the most corrupt for him are allowed to prosper there.

[Illumination]

19. You think like me. This is what mob bosses do...

[zanana1]

20. God help us.