President of the United States Donald Trump issued an executive regulation allowing TikToka to be sold in the US to a group of US investors. The regulation, signed on Thursday, states that the plan meets the national safety requirements set out in the Law of 2024.
The fresh American company will be valued at about $14 billion (about €12 billion), said Vice president JD Vance (41), thus giving for the first time the price for the popular video app. "It will be completely managed in American," Trump said. The transaction is active Michael Dell (60), Rupert Murdoch (94) and "probably 4 or 5 absolutely leading investors". This decision is improbable to have any effect on TikToka’s activities outside the United States – including Germany.
Trump repeatedly deferred the entry into force of the 2024 Act, which would block the application if its Chinese owners had not sold it. Instead, measures were taken to separate the U.S. assets of TikTok from the global platform, attract US and abroad investors and get the approval of the Chinese government.
Oracle is expected to play a key function in TikTok
According to the planned solution, the fresh American company TikToka would stay in the possession of US investors of about 80 percent, and the parent company TikToka, ByteDance, would hold the remainder. This would comply with legal requirements. The White home has already identified Oracle's programming company and financial investor Silver Lake as planned shareholders. According to CNBC tv station information, MGX's investment company from Abu Dhabi is besides involved, and Oracle and Silver Lake together hold 45 percent of TikTok US shares. According to Vance, details will be announced later.
Trump admitted that TikTok, who has 170 million U.S. users, helped him win his re-election last year. Sam has 15 million followers in his account. The White home besides established an authoritative account on TikTok in August. Republicans in the home of Representatives stated that they wanted to know more details about the agreement to make certain it was a clear break-up with China.
The White home did not uncover how it reached a valuation of $14 billion. TikTok's Chinese parent company, ByteDance, is valued at $330 billion.
