President Donald Trump signed an executive order on Thursday approving the transfer of TikTok’s U.S. operations from Chinese owner ByteDance to a consortium of American investors, preventing the app from being banned under U.S. national security law.
The deal, valued at $14 billion, follows approval from Chinese President Xi Jinping.
Under the agreement, Oracle will lead the U.S. investor group, acquiring roughly 45% of the app’s operations.
Private equity firm Silver Lake, media mogul Rupert Murdoch and his son Lachlan, and Dell Technologies CEO Michael Dell are also part of the consortium. ByteDance and other Chinese investors will retain less than 20% of TikTok’s U.S. operations.
The new entity will be overseen by a seven-member board, with six members from U.S. investors and one from ByteDance. Oracle will manage TikTok’s cloud infrastructure and recommendation algorithm within the United States to ensure data remains under American control.
Trump described the deal as “tremendous” for the United States, noting that Xi had personally approved the arrangement.
The deal resolves months of uncertainty over TikTok’s future in the U.S., where the app has roughly 180 million users and has been the subject of bipartisan scrutiny over data privacy and national security concerns.
The executive order effectively satisfies requirements of the Protecting Americans from Foreign Adversary Controlled Applications Act, which could have forced ByteDance to divest or face a nationwide ban. TikTok’s new U.S. structure is expected to be operational before the end of 2025, pending regulatory approvals.
American investors will hold majority control and manage day-to-day operations, marking a rare instance of large-scale foreign divestment in the tech sector.
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Storm Chandra brought severe flooding and widespread disruption to parts of Ireland and Northern Ireland on Tuesday, as strong winds and heavy rain swept across the island.
The S&P 500 edged to a record closing high on Tuesday, marking its fifth consecutive day of gains, as strong advances in technology stocks offset a sharp selloff in healthcare shares and a mixed batch of corporate earnings.
The European Parliament has delayed until next week a decision on whether to resume work on the EU–U.S. trade deal.
U.S. President Donald Trump has warned that Washington would withdraw its support for Iraq if former prime minister Nouri al-Maliki is returned to power, citing concerns over governance, stability and regional influence.
Iran’s Foreign Ministry has strongly rejected a U.S. magazine report on the death toll during January unrest. Nationwide protests erupted in response to soaring inflation and a national currency crisis.
The death toll from nationwide protests in Iran has climbed to 6,126, according to the U.S.-based Human Rights Activists News Agency (HRANA).
Serbian President Aleksandar Vučić, often viewed as a bellwether for the complex diplomatic currents between the Kremlin and the West, has issued a startling prediction regarding the endgame of the war in Ukraine.
The strategic axis between Israel and Azerbaijan has been significantly reinforced this week as President Ilham Aliyev received Israeli Foreign Minister Gideon Sa'ar in Baku.
NATO Secretary General Mark Rutte said on Monday that Europe is "incapable" of defending itself alone without the United States, dismissing calls for a separate European defence force and stressing that transatlantic cooperation remains essential for the continent’s security.
Three Dutch parties have agreed to form a minority coalition that will install D66 leader Rob Jetten as the country’s youngest prime minister.
Storm Chandra brought severe flooding and widespread disruption to parts of Ireland and Northern Ireland on Tuesday, as strong winds and heavy rain swept across the island.
Nigeria’s army says troops have rescued 11 kidnap victims during a late-night operation on the Kaduna–Abuja highway after tracking militants moving captives through forested terrain.
The European Parliament has delayed until next week a decision on whether to resume work on the EU–U.S. trade deal.
U.S. President Donald Trump has warned that Washington would withdraw its support for Iraq if former prime minister Nouri al-Maliki is returned to power, citing concerns over governance, stability and regional influence.
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