US President Donald Trump says media mogul Lachlan Murdoch and business leaders Larry Ellison and Michael Dell will be involved as US investors in a proposed deal to keep TikTok operating in the United States.

Trump has said that the US and China have made progress on a deal requiring TikTok's US assets to be transferred to local owners from China's ByteDance.

TikTok counts 170 million users in the United States and helps shape public discourse on politics and culture.

Trump praised the group in an interview with Fox News, calling them prominent people and "American patriots".

"I think they're going to do a really good job," Trump said, crediting TikTok with helping build his support among young voters in the 2024 presidential election.

Murdoch, the CEO of Fox Corp, recently cemented

See Full Page