Trump's Executive Order Drives TikTok's Americanization Amid Security Concerns
President Trump signed an executive order to facilitate the sale of TikTok's U.S. operations to American and global investors to address national security concerns. The move aims to protect American data privacy, with Trump approving the plan following discussions with Chinese President Xi Jinping. Significant investors include Oracle and Silver Lake.
President Donald Trump signed an executive order Thursday to advance the sale of TikTok's U.S. operations to American and global investors, addressing national security concerns as per a 2024 law. The new U.S. entity is valued at $14 billion, significantly lower than some analyst valuations of the popular app.
Vice President JD Vance highlighted the necessity of ensuring American data privacy while keeping TikTok operational. Trump mentioned a positive dialogue with China's President Xi Jinping, obtaining his agreement to proceed. TikTok, having 170 million U.S. users, remains a pivotal platform, even influencing past elections.
Key investors in the deal include Oracle and Silver Lake. Republican lawmakers emphasize the importance of a clean break from Chinese influence. ByteDance will retain less than 20% U.S. ownership, with Americans holding the majority of board seats in compliance with the 2024 mandate.
(With inputs from agencies.)
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