A major Trump billionaire ally is now the partial owner of the social media platform TikTok. A group of investors including Larry Ellison’s company Oracle agreed to a $14 billion deal to give them control of the U.S. version of the platform being spun off from ByteDance, a Chinese-owned company. In 2024, Congress banned TikTok, claiming national security concerns over its ties to China. But Trump had allowed the platform to keep operating as a deal was worked out. Ellison is also the largest shareholder of Paramount, the parent company of CBS.