TikTok stays in America: Trump’s $14B deal with Xi gives U.S. majority control as Oracle and Silver Lake take charge

President Trump has signed an executive order approving a $14 billion deal for the U.S. operations of TikTok to be taken over by American investors, including Oracle and Silver Lake, with Oracle leading the security and cloud infrastructure management. The new deal results in about 80% American majority ownership, reducing Chinese ByteDance’s stake to less than 20%.

This move aims to address U.S. national security concerns by keeping TikTok under American control while allowing it to continue operating in the U.S. Trump says he spoke with Chinese President Xi Jinping, and that Xi “gave the go-ahead” for the deal, though China has not publicly confirmed this.