President Trump approved a deal transferring TikTok’s US operations to American investors, including Oracle, Silver Lake, and MGX, which will control 45%. ByteDance retains 19.9%. Oracle will oversee security and the algorithm.

President Donald Trump signed an executive order Thursday declaring that a plan for TikTok’s Chinese owner ByteDance to divest the U.S. operations of the wildly popular video app meets the requirements of a 2024 law.

WASHINGTON (AP) — President Donald Trump has signed an executive order declaring that a proposed deal allowing TikTok to continue operating in the United States will be a qualified sale that meets national security concerns laid out by the law.

US companies will acquire approximately 80% of TikTok's US operations and gain a licence to manage the app's recommendation algorithm, US News, Times Now

White House says 'qualified divestiture' would give Oracle stake and secure American user data, though some lawmakers warn ByteDance could still wield influence - Anadolu Ajansı

The idea of the world’s most popular video platform being under the control of billionaire Trump allies has set off alarms.

"We have a framework for a TikTok deal," Treasury Secretary Scott Bessent said after talks with Chinese officials in Spain.

TikTok is an addictive app that, for years, has provided the Chinese Communist Party with direct access to millions of Americans. Owned by Beijing-based ByteDance, TikTok is used to provide a monsoon of CCP-approved propaganda while handing the Chinese government access to the data of TikTok’s international users,