Trump Signs Off on $14B TikTok Deal

Washington — President Donald Trump signed an executive order Thursday for the approval of a deal that will enable TikTok to keep operating in the U.S., with its U.S. business worth $14 billion, Vice President JD Vance said.

Under the plan, a new joint venture will oversee TikTok’s U.S. operations. ByteDance will hold less than 20%, while Oracle, Silver Lake, and Abu Dhabi’s MGX fund will control about 45%. Other investors, including General Atlantic, Sequoia, and Susquehanna, are expected to take stakes as well.

Trump indicated Oracle CEO Larry Ellison is "playing a very big part" in the deal, with Oracle also responsible for TikTok's U.S. security and cloud operations. He added the deal sees TikTok being "American operated all the way."

The deal is still pending approval from China's government, which had earlier opposed the terms. The order pushes ByteDance's deadline to divest its U.S. assets until Dec. 16.