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Trump Approves TikTok Deal, Valuing U.S. Operations at $14 Billion
Trump Approves TikTok Deal, Valuing U.S. Operations at $14 Billion
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BTCCSquare news:
President Donald TRUMP has signed an executive order allowing TikTok to continue operating in the U.S., averting a ban mandated by Congress. The deal transfers majority ownership of TikTok's U.S. operations to American investors, valuing the business at $14 billion. Oracle, Silver Lake, and Abu Dhabi's MGX will control nearly 45%, while ByteDance retains a minority stake below 20%.
The agreement follows negotiations between Trump and Chinese President Xi Jinping, satisfying national security concerns over ByteDance's ownership. Vice President J.D. Vance emphasized the deal's significance, though details on remaining investor allocations—including General Atlantic and Sequoia—remain pending.
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