President Donald Trump has approved a plan for American investors to acquire TikTok’s US operations from ByteDance, with the potential deal valued at US$14 billion.

Trump signed an executive order on September 25, saying the transaction would safeguard US user data, with Oracle expected to help secure the platform’s algorithm.

Trump received verbal approval from Chinese President Xi Jinping, but China has not publicly confirmed its support.

The Chinese Foreign Ministry has noted that any TikTok deal must comply with local laws.

JD Vance, the US Vice President, said the proposed new company could be valued at about US$14 billion, though the final investor group is not set.

Oracle, Silver Lake, and MGX, an investment firm from Abu Dhabi, are reportedly in discussions to join the buyer group and gain board positions.

The deal’s completion remains uncertain pending further approval from Chinese authorities.

🔗 Source: Bloomberg

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