FX.co ★ Trump, Vance Unveil TikTok U.S. Deal Pending China’s Nod

President Donald Trump formalized an executive order on Thursday regarding an arrangement to maintain TikTok’s presence in the United States. According to Vice President JD Vance, this deal at a valuation of $14 billion is contingent upon approval from Beijing. The arrangement satisfies the national security regulations mandating ByteDance to relinquish the majority of its U.S. TikTok operations or risk a prohibition. A newly formed joint venture will oversee the business, with ByteDance retaining a stake of less than 20%. Oracle, Silver Lake, and Abu Dhabi’s MGX are poised to hold around 45%, while other ByteDance investors and fresh stakeholders will acquire 35%, as reported by CNBC. Additionally, Oracle will be responsible for overseeing TikTok’s U.S. security and cloud services. While President Trump remarked that Chinese President Xi Jinping has consented to the plan, Vice President Vance noted initial resistance from Beijing. ByteDance representatives were absent during the signing, and the company has not yet formally recognized the deal. The purchase price remains undisclosed, and the legal modifications required in China to complete the transaction are still pending.