President Trump signs $14 billion TikTok deal to keep app alive
On Thursday afternoon, President Donald Trump signed an executive order that facilitates the sale of TikTok to a group of American investors. So, is TikTok officially off the chopping block in the United States? Not quite. Technically, the deal still hasn't been finalized, according to CNN.
SEE ALSO: Everything we know about the TikTok deal so farThe executive order declares that the TikTok deal meets the requirements of a 2024 law that banned TikTok from operating in the United States. Moving forward, data for U.S. users would be managed by Oracle, and White House Press Secretary Karoline Leavitt has said that the U.S. algorithm would also be controlled domestically. In addition, Vice President JD Vance said the deal values the U.S. TikTok assets at $14 billion, per Deadline. Apple AirPods Pro 2 ANC Earbuds With USB-C Charging Case — $169.99(List Price $249.00) Meta Quest 3S 128GB VR Headset With Gorilla Tag Cardboard Hero Bundle — $249.00(List Price $299.99) Apple iPad 11" 128GB Wi-Fi Retina Tablet (Blue, 2025 Release) — $279.00(List Price $349.00) DJI Mini 4K Drone With 4K UHD Camera — $239.00(List Price $299.00) Samsung Galaxy Tab A9+ 64GB Wi-Fi 11" Tablet — $148.94(List Price $219.99) Blink Mini 2 Indoor Wireless 1080p Camera (2-Pack) — $34.99(List Price $69.99) Ring Battery Doorbell Plus Video Doorbell (2023 Release) — $79.99(List Price $149.99) Shark AV2501S AI Robot Vacuum With Self-Empty Base — $229.99(List Price $549.99) Amazon Fire HD 10 32GB Tablet (2023 Release, Black) — $69.99(List Price $139.99) Wyze Cam v4 2K Wired Wi-Fi Smart Security Camera — $25.95(List Price $35.98)
In addition to Oracle, the new consortium of owners could include Oracle head Larry Ellison, Dell Technologies CEO Michael Dell, and Fox Corp.
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This comes after years of Trump posturing and signing executive orders to hold off the Biden-era ban, which also took years of posturing and debating.
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ByteDance, TikTok's Chinese parent company, has been on a timeline to either find a new owner or get banned in the U.S. due to security reasons. Trump has signed executive orders to extend the deadline time and time again. Finally, after talks between Trump and Chinese President Xi Jinping, the leaders struck a deal.
