A top executive of one of the country’s leading tech companies has donated ,000 250,000 to Senator Lindsay Graham’s Super Political Action Committee (PAC), which supports his re-election campaign, as his company has struck a prestigious deal to become Tictac’s U.S. technology partner.
Oracle CEO Larry Ellison has donated millions of dollars to Security Is Strength PAC, which is paying Graham for ads supporting his re-election bid. To the edge Reported.
The donation, described as extraordinarily large for Ellison, took place on September 14 – just hours before Oracle announced that it had selected Beijing – based social media platform TicTac as its cloud technology provider.
Oracle has stopped competing with Microsoft and several other high-profile bidders to protect the popular app, after its parent company, Byte Dance, pledged to ban it in the US on data-sharing issues if President Trump does not sell its China-based.
Ellison’s agreement was hailed by people like Treasury Secretary Steve Munuchin, but also received criticism from lawmakers on both sides of the political aisle. Dissidents say the arrangement still fails to resolve issues with the Bytdance relationship with the Chinese government.
Oracle CEO Larry Ellison has donated millions of dollars to Security Is Strength PAC, which pays for ads supporting Graham’s re-election bid, reports The Verge
The image above shows the Ellison donation receipt as shown on the Federal Election Commission website
According to The Verge, Graham is known to have played a key role in securing the deal.
Said Graham in August Vanity Fair He personally called on Trump to suggest finding a US company to buy the platform to address White House concerns over byte dance relations with Beijing.
“Let Microsoft or someone buy it, put it in American hands and allow the platform to survive and thrive because a lot of people will enjoy it,” the senator told Trump this summer.
‘If TickTalk is saved, you can thank me,’ he said.
The Oracle deal with TicTac was done with Walmart, the two companies co-founded TicTac Global, which is headquartered in Texas and could bring in 25,000 new jobs.
As part of the deal, parent company ByteDance will still own 80 percent of the app. As Bite Dance is 40 percent owned by US investors, the new TikTalk Global is technically owned by a majority of Americans.
Oracle has announced that it has been selected as TicTac’s Secure Cloud Provider and will be a minority investor with a 12.5% stake.
Wal-Mart has tentatively agreed to buy a 7.5 percent stake in TicTac, with its CEO Doug Macmillan serving as one of the company’s five board members.
The parent company ByteDance, meanwhile, owns the remaining 80 percent of the app. Since Bite Dance is 40 percent owned by U.S. investors, the new TikTalk Global will technically be American-owned.
TicTac Global said it will bring more American ownership with public shares next year.
The Oracle deal with TicTac was done with Wal-Mart, the two companies co-founded TicTac Global, which is headquartered in Texas and could bring in 25,000 new jobs.
The agreement is yet to be signed by Beijing. Chinese officials have said they will not allow Bydance to sell algorithms used by TicTac, which they believe will add more value to the app.
Graham was excited about the deal on the day the deal was announced, and wrote on Twitter on the day the deal was announced: ‘President Trump’s great decision to approve the sale of TickTalk to Oracle and Walmart.
‘Great for American consumers being protected from the Chinese Communist Party. Well done, Mr. President, ‘he said.
Graham is currently in the final stages of a brutal fundraising campaign against Democratic challenger Jaime Harrison, who has raised the most money in any Senate campaign history.
On Thursday, Political The three-term senator reportedly had a narrow lead of 46 percent to 40 percent of voters against Harrison.
However, Harrison raised $ 57 million in the third quarter of this year, disguising Graham’s $ 28 million, the outlet said.
“My opponent will raise $ 100 million in the state of South Carolina,” Graham said in September. “The money I spent so far in state history so far in the Senate race in this state was $ 13 million in 2014.”