Trump Clears Way for Cronies to Buy TikTok for $14B
7 hours ago
- #TikTok
- #Executive Order
- #US-China Relations
- President Trump signed an executive order to facilitate a U.S. version of TikTok, separate from Chinese owner ByteDance.
- The U.S. TikTok company is valued at $14 billion, with potential investors including Oracle and Rupert Murdoch's Fox Corporation.
- Critics argue the $14 billion valuation is significantly undervalued and question the legitimacy of the deal.
- The executive order includes intense monitoring of software updates, algorithms, and data flows, raising concerns about actual control over TikTok.
- Michael Sobolik of the Hudson Institute highlights the discrepancy between monitoring and controlling TikTok's operations.