Trump order allows deal for TikTok’s US operations to proceed

president Donald Trump On Thursday, an executive thing that allows the transfer of US Tiktok operations away from the Chinese -based owner of the social media application.

We will see the deal American Tiktok Operations Disputing to commit to compliance with a law prohibiting social media platforms under the control of foreign hostile governments such as China.

The Oracle -led group will be a giant for programs that include Silver Lake for private stocks and state -owned investment company MGX are the main investors in Tiktok Us, with a 45 % royal share, according to a report issued by CNBC citing familiar sources of the matter.

The White House has previously indicated that Oracle and Silver Lake will be among the main owners of Tiktok Us earlier this week, a White House official said that bytedance will own less than 20 % of the company, while current shareholders and international companies will represent the remainder of the company’s ownership. Intedance investors will retain 35 %, according to the report.

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Last year, congress enacted a law signed by the then president Joe Biden This is a ban on Tiktok and other applications controlled by foreign opponents amid national security concerns about data security and the use of platforms for foreign effects.

The Americans Protection Law requires foreign applications (PAFACA) that applications like Tiktok be restricted in the United States unless it is eliminated from the monarchy under control by numerical foreign governments, such as The Chinese Communist Party.

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Tiktok faced a ban under Law 2024 aimed at preventing applications under the control of foreign enemies such as China. (Aaronp/Bauer-Griffin/GC Images/Getty Images)

After the law survived a supreme court The challenge began, began on January 19, 2025, although it allowed 90 days to extend.

By initially refused to sell Tiktok and after President Trump took office, he issued a 75 -day initial delay in law enforcement.

This was followed by another 75 -day extension in April and the extension of 90 days in June, which was scheduled to be expired earlier this month before its extension.

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Fox Business’ Sophia Compven and Reuters contributed to this report.