Trump approves TikTok deal, Xi gives go-ahead to US ownership
Donald Trump signed an executive order finalizing a deal allowing TikTok to operate in the US, with a majority stake moving to US investors like Oracle and Silver Lake. ByteDance will retain less than 20% equity. Much is still unknown about the actual arrangement, but Trump said Chinese President Xi Jinping “gave us the go-ahead” to proceed with the deal.
Donald Trump signed an executive order finalizing a deal allowing TikTok to operate in the US, with a majority stake moving to US investors like Oracle and Silver Lake. ByteDance will retain less than 20% equity. Much is still unknown about the actual arrangement, but Trump said Chinese President Xi Jinping “gave us the go-ahead” to proceed with the deal.
