Trump signs off on TikTok deal that puts US app's value at $14 billion
17 hours ago
- #data security
- #TikTok
- #US-China relations
- President Donald Trump signed an executive order to finalize the sale of TikTok's U.S. operations to an American investor group.
- The deal values TikTok's U.S. operations at $14 billion and aims to protect Americans' data security.
- Oracle will serve as TikTok's security provider in the U.S., inspecting and monitoring its algorithm.
- The agreement involves spinning off TikTok's U.S. operations into a new joint venture with majority American ownership.
- U.S. officials have expressed concerns about TikTok posing a national security threat, which TikTok denies.
- Former President Joe Biden signed a law in 2024 banning TikTok unless ByteDance divested its U.S. holdings.
- Trump has extended the sell-or-ban deadline three times during his second presidential term.