Historic Agreement: American Alliance Acquires Majority of 'TikTok America' with Trump's Approval
In a decisive move to end the controversy surrounding the popular video app, U.S. President Donald Trump signed an executive order on Thursday approving the deal that transfers the management of the 'TikTok' app to American investors. The signing of the order came after intense negotiations with the Chinese side.
Details of the deal, according to reports from the 'CNBC' network citing informed sources, revealed the formation of an American corporate alliance that will become the largest shareholder in the new 'TikTok America' entity. This alliance consists of 'Oracle', 'Silver Lake', and 'MGX', which will collectively own a controlling stake of 45% of the ownership.
As for the Chinese company 'ByteDance', the parent company of the 'TikTok' app, it will retain an estimated 20% stake in the American entity, while the remaining 35% will be held by current 'ByteDance' investors. The agreement essentially mandates the separation of 'TikTok' operations in the United States from the parent Chinese company.
Following the signing, President Trump commented on the deal, estimating its financial value at around $14 billion. Trump stated, 'American investors will manage the 'TikTok' app.' He added that the Chinese president approved the acquisition of the app, considering that 'America's takeover of the Chinese app was necessary.' Trump concluded his statement by saying, 'We hope China will adhere to the deal.'
This presidential confirmation comes after the White House announced earlier this week that Trump would certify that this deal fully complies with the requirements imposed by a law enacted in 2024, paving the way for the app to continue operating safely for users in the United States.
