Trump allies to take control of TikTok in new US deal

Former US President Donald Trump on Thursday signed an executive order sketching out a plan to create an American version of TikTok that would place the app largely under the control of investors close to him.

Under the proposal, Chinese ownership of TikTok’s US business would drop to 20 percent, while the platform’s prized recommendation algorithm would be adapted for domestic use and “continuously monitored” to ensure independence.

At the White House signing, Trump said the revamped app would be run by “highly sophisticated” US investors naming Oracle founder Larry Ellison, tech entrepreneur Michael Dell, media mogul Rupert Murdoch, and venture firms Silver Lake Management and Andreessen Horowitz** among those expected to participate.

“The proposed divestiture would allow the millions of Americans who enjoy TikTok every day to continue using it while also protecting national security,” the order stated.

 “If I could make it 100 percent MAGA I would, but it’s not going to work out that way unfortunately. No… every group, every philosophy, every policy, will be treated very fairly,” Trump told reporters.

The deal follows a law passed during Joe Biden’s presidency that requires ByteDance, TikTok’s Chinese parent company, to sell its US operations or face a nationwide ban. Washington has long argued that Chinese ownership could enable data harvesting or political influence.

Trump’s order grants another 120-day extension, pushing the deadline to January 23, 2026, for completing the transaction.

Vice President JD Vance, who led the negotiation team, estimated the US entity’s value at roughly $14 billion, though final pricing will be left to the investors.

Trump said Chinese President Xi Jinping approved the arrangement during a recent phone call, and Beijing’s foreign ministry reiterated Friday that it expects an “open, fair and non-discriminatory” environment for Chinese firms operating in the United States.

TikTok, which boasts more than 170 million US users, has not yet publicly commented on the proposed deal.