Trump celebrates saving TikTok after deal finalized to prevent US ban | Latest Tech News
President Trump hailed a deal finalized Thursday that will permit TikTok to continue to operate in the US.
As half of the settlement, the social video platform company will kind a new TikTok US three way partnership with American buyers and keep away from the looming menace of a complete ban across the 50 states.
“I am so happy to have helped in saving TikTok!” Trump wrote on Truth Social.
“It will now be owned by a group of Great American Patriots and Investors, the Biggest in the World, and will be an important Voice,” the president continued. “Along with other components, it was accountable for my doing so effectively with the Youth Vote in the 2024 Presidential Election.
President Trump hopes “that long into the future I will be remembered by those who use and love TikTok.” AP
“I only hope that long into the future I will be remembered by those who use and love TikTok.”
ByteDance, the Chinese mother or father company of TikTok, will retain a 19.9% stake in the app as half of the new enterprise.
Silver Lake, Oracle and MGX are among the new buyers.
Adam Presser, TikTok’s head of operations and trust and security, would be the CEO of the new enterprise.
“The majority American owned Joint Venture will operate under defined safeguards that protect national security through comprehensive data protections, algorithm security, content moderation, and software assurances for US users,” the company said in a assertion Thursday.
The 170 million Americans on TikTok can continue utilizing the platform as is on the same app.
In 2024, Congress handed laws signed by former President Joe Biden forcing ByteDance to divest from TikTok or face a US blackout.
The push to ban TikTok stemmed from bipartisan issues over the video-sharing app’s algorithm and the flexibility of the Chinese Communist Party to access person data.
Adam Presser, who was TikTok’s head of operations and trust and security, will lead the new enterprise along with the current CEO of TikTok, Shou Chew. AFP via Getty Images
The app went darkish for a number of hours in January 2025 after ByteDance missed the law’s deadline for the company to discover a new American proprietor for TikTok.
Trump signed an government order on the first day of his second time period to keep TikTok up and working in the US while his administration labored on getting a deal completed to promote the company.
Under the new enterprise, Oracle will store US person data domestically, and TikTok’s algorithm, which controls which videos customers see in their feeds, will probably be licensed to the US entity for retraining.
Trump called the deal a “beautiful conclusion” for TikTok and followers of the app.
“Thank you to Vice President JD Vance, and all of the others within my Administration, who helped bring this Deal to a very dramatic, final, and beautiful conclusion,” the president said.
“I would also like to thank President Xi, of China, for working with us and, ultimately, approving the Deal,” Trump added. “He could have gone the other way, but didn’t, and is appreciated for his decision.”
The Chinese authorities has not publicly commented on TikTok’s announcement.
With Post wires
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