President Donald Trump on Thursday pushed forward plans for US investors to acquire TikTok’s American operations from Chinese owner ByteDance Ltd. The move aims to ensure data security for American users, with Oracle set to help secure the platform’s algorithm under US control.
Mixed Reactions From TikTok Employees
The announcement brought some relief to TikTok’s US staff, who have faced months of uncertainty amid political pressure and the threat of divestment. However, many employees remain anxious about their roles under new ownership. Concerns also persist over ByteDance stock options and whether a US-controlled algorithm will be as effective as the original.
Trump Claims Xi’s Approval, But Doubts Remain
Trump said he discussed TikTok with Chinese President Xi Jinping, who “gave the go-ahead” for the transaction. However, China’s foreign ministry has not confirmed this, only stating that any sale must comply with Chinese law. The future of the deal remains unclear.
Potential $14 Billion Valuation
US Vice President JD Vance, involved in negotiating the deal, estimated that the new US-based TikTok entity could be valued at around $14 billion. Despite ongoing uncertainties, the deal could mark a pivotal shift in control of one of the world’s most influential social media platforms.
