Oracle and Walmart reportedly at that time brokered a deal to run the US arm of TikTok. Do you trust them? Walmart certainly isn't politically neutral, by any stretch. Meanwhile, Larry Ellison was a leading figure in the effort to subvert the 2020 election. He was on the Nov. 14 election subversion planning call, along with "Sen. Lindsey O. Graham (R-S.C.); Fox News host Sean Hannity; Jay Sekulow, an attorney for President Donald Trump; and James Bopp Jr., an attorney for True the Vote, a Texas-based nonprofit that has promoted disputed claims of widespread voter fraud." (source: WaPo)
This doesn't seem like a solid plan, to put it rather mildly.
https://www.oracle.com/industries/government/us-defense/
Larry Ellison defecting to China doesn't seem like a likely scenario, I don't think he'd like life as an international fugitive, slave to a host with a history of treating their own native billionaires harshly. Barring such a flight, the US Government can get their hands on him if that becomes necessary, but I doubt it will.
Well, I trust them more than I trust China. I guess we should have done nothing instead?