Sarah Baus of Charleston, South Carolina, holds a sign with the inscription “Keep Tikkok”, as she and other content creators Sally Miley from Jackson, Mississippi, and Callie Goodwin from Columbia, South Carolina, stand in front of the U.S. Tiktok Law on Jan. (Photo by Andrew Harnik/Getty Images)
A group of US investors will take over the massive video sharing platform Tiktok, said President Donald Trump on Thursday.
Trump signed An executive order The certification of a transaction for Tikok corresponds to a law of 2024 that is sold by the Chinese parent company of the platform, byte dance Ltd., Tiktok or exposed to a ban in the USA
The company has a value of 14 billion US dollars in the deal, said Vice President JD Vance. A fresh joint venture in the USA will hold 80% of the company, while byte dance, according to order, maintains a share of 20%. The US parties control the coveted algorithm of the app, which is concerned with the content for users and the content of moderation according to the order.
The White House did not immediately publish a list of US investors, but Trump said Oracle and his CEO Larry Ellison would be the main actors. He also mentioned the computer entrepreneur Michael Dell and the conservative media magnate Rupert Murdoch as others.
“It is operated by American investors and American companies,” said Trump.
Sale required
The law of 2024 reacted to concerns regarding the national security risks of the perceived participation of the Chinese government in the widespread app. Tiktok consistently denied that the Chinese party’s communist party had control over the platform.
Tikkok was in front of a ban in the United States without a sale.
The aim of the administration was to keep the platform into operation in the USA and to secure the users’ data, said Vance.
“The basic thing we wanted to achieve is that we wanted to keep Tiktok into operation, but we also wanted to make sure that we have prescribed the data protection of the Americans as legally, both because it is the right one, but also because it is a legal requirement for the law that was passed by the congress last year,” he said.
Use Daves from Tikkok Shutdown
Tikok said in 2023 that it had 150 million monthly users in the country. The order updated this number to 170 million.
The app was closed for about 24 hours in January before Trump suspended the law on his first day of office. He expanded this delay several times last week when he reset the deadline for December.
The order on Thursday extends the break to enforce the law in January.
The legislature throughout the passage has made sure that China’s governing communist party accesses TIKTOK user data and manipulated what type of content users you see.
“This deal really means that Americans can use TikKok, but can actually use it with more self -confidence than in the past, since their data will be safe and it is not used as a propaganda weapon against our fellow citizens,” said Vance on Thursday.
Republicans in the congress want protection
Others, also about party lines, have argued that the Rede-Rede principles should mean that the government cannot close a private speech platform.
And Tiktok argued that it is a company based in the USA and Singapore. The app is not even available on the Chinese mainland, where the government has considerable control over the speech, said Ceo Shou Zi Chew the US House Energy and Commerce Committee in 2023.
A trio of high -ranking Republicans in this committee – Chairman Brett Guthrie from Kentucky, Gus Bilirakis from Florida and Richard Hudson from North Carolina – said in A Thursday declaration The deal was a positive step.
“After completing the details, we have to ensure that this deal protects American users from the influence and monitoring of CCP-oriented groups,” they wrote. “The limitation of the influence and the involvement of China remains an essential national security interest, and we look forward to seeing a deal that ensures America’s interests on the global stage.”
