Billionaires in the mix to become more powerful than Elon Musk as Trump seals massive ...

Treasury Secretary Scott Bessent announces that the U.S. and China have reached a framework deal to keep TikTok operating in America, just days before a crucial September deadline.

The agreement comes after negotiations in Madrid between Bessent and Chinese Vice Premier He Lifeng, with President Trump's direct involvement. Congress originally mandated that TikTok's Chinese parent company ByteDance must divest from the platform due to national security concerns. Oracle founder Larry Ellison emerges as a leading potential buyer, given his company's existing role in hosting TikTok's U.S. data and his close ties to the Trump administration.

• Trump is scheduled to speak with Chinese President Xi Jinping on Friday to finalize details of the TikTok deal
• Oracle's Larry Ellison leads investor groups interested in purchasing the platform, potentially making him the world's first trillionaire
• Venture capital firm Andreessen Horowitz, with strong Trump administration connections, is also reportedly involved in negotiations
• The deal represents the second major attempt this year to resolve TikTok's ownership status in the United States