United States President Trump reveals that TikTok has secured a purchaser
After months of negotiations, the U.S. and China have reached a deal regarding the future of popular video-sharing app TikTok. The agreement, which requires approval by Congress, involves transferring TikTok's U.S. assets to U.S. owners, not owned by China's ByteDance.
The deal was previously stalled but has now reached a framework agreement this week. Interested companies to buy TikTok include Oracle, Dell (through CEO Michael Dell), and media mogul Lachlan Murdoch. ByteDance is expected to retain a 20% stake in the app.
The sale is part of a deal approved by U.S. President Donald Trump after negotiations with China. The exact sale value has not been publicly disclosed, but the deal extends the deadline for the sale to December 16, 2025.
The deal aims to ease trade tensions between the U.S. and China, as previously stated. Analysts value TikTok at up to $50 billion, and the app has approximately 170 million users in the United States.
The 2024 law passed by Congress demanded ByteDance to divest due to security concerns, as previously noted. President Donald Trump announced the deal without providing specific details, but he considered it a win for both countries.
The agreement is subject to Congressional approval, which will be a crucial step in finalising the deal. If approved, the sale could mark a significant shift in the ownership of one of the world's most popular social media platforms.
In a surprising move, the White House recently launched a TikTok account, joining the platform where the app's future is being decided. It remains to be seen how this new development will impact the ongoing negotiations and the future of TikTok in the U.S.
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