Trump Approves TikTok Sale to Oracle-Led Consortium

President Donald Trump has signed an executive order approving the sale of TikTok's U.S. operations to a consortium led by Oracle, valuing the business at $14 billion.

The deal, which still requires approval from the Chinese government, involves the creation of a new joint-venture company overseeing TikTok's U.S. business. ByteDance, TikTok's Chinese parent company, will retain less than a 20% stake in the new entity.

Vice President JD Vance stated that the transaction values TikTok's U.S. operations at approximately $14 billion.

Oracle will serve as the "trusted technology provider" for TikTok, hosting all U.S. user data and ensuring its security.

President Trump emphasized that the new company would be run by "very sophisticated... very smart" Americans and noted that Chinese President Xi Jinping had given the deal "the go-ahead."

The agreement comes after concerns were raised about national security risks associated with TikTok's Chinese ownership. The U.S. government had previously warned that the Chinese government could potentially access American users' data or influence the content they see.

The deal's finalization is pending approval from the Chinese government, and further details about the new company's structure and leadership are yet to be disclosed.