(Washington, 26th) — On the 25th, U.S. President Donald Trump signed an executive order at the White House, officially approving the sale agreement for Chinese video-sharing platform TikTok.
Trump emphasized that this agreement will satisfy national security requirements outlined in a U.S. law passed last year, and has also received approval from the Chinese side.
Once implemented, TikTok’s U.S. operations will be managed by a new joint venture company. American investors will own about 80% of the new company, while TikTok’s Chinese parent company, ByteDance, will reduce its share to less than 20%. User data from American users will be stored in the United States and managed by U.S. software giant Oracle. TikTok’s algorithm will also undergo retraining and ongoing monitoring to ensure that U.S. content is not subject to any external manipulation.
Trump stated that TikTok will be operated entirely in the U.S., with American tech company Oracle playing a key role in data security. Tech investor Dell, News Corp founder Murdoch, and four to five world-class investors will also participate in the TikTok acquisition plan.
U.S. Vice President Vance said the newly formed U.S. TikTok company is valued at about $14 billion (58.97 billion ringgit), marking the first time the U.S. government has publicly disclosed a related valuation, although it is lower than estimates by some analysts. He noted there was some resistance from the Chinese side, but their fundamental goal is to allow TikTok to continue operating while ensuring, in accordance with the law, that the privacy of American users' data is protected.
Trump emphasized that this agreement will satisfy national security requirements outlined in a U.S. law passed last year, and has also received approval from the Chinese side.
Once implemented, TikTok’s U.S. operations will be managed by a new joint venture company. American investors will own about 80% of the new company, while TikTok’s Chinese parent company, ByteDance, will reduce its share to less than 20%. User data from American users will be stored in the United States and managed by U.S. software giant Oracle. TikTok’s algorithm will also undergo retraining and ongoing monitoring to ensure that U.S. content is not subject to any external manipulation.
Trump stated that TikTok will be operated entirely in the U.S., with American tech company Oracle playing a key role in data security. Tech investor Dell, News Corp founder Murdoch, and four to five world-class investors will also participate in the TikTok acquisition plan.
U.S. Vice President Vance said the newly formed U.S. TikTok company is valued at about $14 billion (58.97 billion ringgit), marking the first time the U.S. government has publicly disclosed a related valuation, although it is lower than estimates by some analysts. He noted there was some resistance from the Chinese side, but their fundamental goal is to allow TikTok to continue operating while ensuring, in accordance with the law, that the privacy of American users' data is protected.