Gulte Movie News And Politics
US President Donald Trump has signed an executive order approving a deal to allow TikTok to continue its operations in the USA. The deal is worth $14 billion in valuation as per an estimate by Vice President JD Vance, though he didn’t disclose the purchase price. Following the executive order, ByteDance will retain a minor stake of just about 20 percent in TikTok’s total valuation.
After signing the TikTok deal, Trump stated, “This is interesting because I had a very good talk with President Xi, a lot of respect for him. Hopefully, he has a lot of respect for me, too. We talked about TikTok, and he gave us the go-ahead.”
Trump went on to shower praise on the US companies. “You know, it’s (TikTok) run by American investors and American companies, great ones, great investors, the biggest. The young people really wanted this to happen. We have American investors taking it over, running it, highly sophisticated, including Larry Ellison and Oracle, I guess, is going to play a very big role in terms of security, safety, and everything else,” he added.
Trump’s executive order would mean less Chinese authority on one of the world’s most popular social media apps. As per JD Vance, the deal will allow financially wealthy American investors to control Tik Tok’s unique algorithm. And for Trump, the deal is yet another victory in his Make America Great Again (MAGA) campaign.
