At Rally Trump Touts His Idea for Oracle to Pay $5 Billion Into ‘Real History’ Education Fund Amid Pending TikTok Purchase
President Donald Trump at his Saturday evening campaign rally in North Carolina touted that he is going to have Oracle pay the United States $5 billion for an education fund to teach students about “real history” pending the technology company purchasing of TikTok.
“We are very close to a great deal with TikTok. TikTok,” Trump began. “But nobody cares about that anymore, all they care about is ‘fill that seat,’ right? Until about 24 hours ago, that’s all they talked about was TikTok. TikTok.”
“But, we have a deal worked out, I think with Walmart going to buy it along with Oracle, Larry Ellison [Oracle Co-founder]. It’s going to be an incredible combination,” Trump stated. “And I said, could you do me a favor, could you put out $5 billion into a fund for education, so we can educate people, as to real history of our country, the real history.”
“Not the fake history,” he added.
“Because we are getting very close to that deal and all of the technology will be maintained here. They’re going to move probably to the great state of Texas. They are going to move into the United States which is what is important. Unbelievable company,” Trump continued. “They are going to have 25000 jobs.”
“I gave them the preliminary approval but they are putting up 5 billion dollars and my only problem is, they did so fast, I should have asked for more,” Trump riffed.
The companies have agreed to terms with Trump for new TikTok Global to give $5 billion to an education foundation that will be established, sources tell me. Trump told press: “They’re going to be setting up a very large fund…That’s their contribution that I’ve been asking for.”
— Jennifer Jacobs (@JenniferJJacobs) September 19, 2020
Axios’ Business editor Dan Primack fact-checked Trump’s remarks, stating “the $5 billion education fund only happens if/when TikTok goes public — and only if it happens to have $5b.”
So, to recap on TikTok, Trump got one thing wrong and really overstated one other thing.
1/ Oracle and Walmart will NOT have control, which Trump said they would.
2/ The $5 billion education fund only happens if/when TikTok goes public — and only if it happens to have $5b.
— Dan Primack (@danprimack) September 19, 2020
Trump says that TikTok will form a $5 billion fund for U.S. education — and says that’s the payment he was seeking.
BUT… We’ve learned that $5 billion is dependent on TikTik’s IPO. As of right now, there is no $5 billion and no fund.
— Dan Primack (@danprimack) September 19, 2020
Watch above, via Fox News.
