Donald Trump has signed an executive order that clears the way for a deal that would put the popular social media platform TikTok under US control. Vice President JD Vance asserted that the agreement gives Americans authority over TikTok's valuable algorithm, the system that dictates content for over 170 million U.S. users. Speaking from the Oval Office, where the executive order was signed, Vance estimated the value of TikTok's US assets to be $14 billion, which is significantly lower than earlier estimates that valued the company's assets at up to $100 billion, depending on access to the algorithm. The deal sets the stage for some of the president's closest billionaire allies to take control of the platform.
“This deal will allow for the US to control the app’s algorithm. It’s actually going to be American-operated all the way,” Vance said.
“We want the business to make decisions about content based on the interest of the business and based on the interest of the users, and that’s what we think will happen,” he added, highlighting how businesses can boost the app’s content decisions.
What Donald Trump said about the TikTok agreement
During the signing of the agreement, Trump said, “This is going to be American-operated all the way. I have great respect for President Xi, and I very much appreciate that he approved the deal, because to get it done properly, we really needed the support of China and the approval of China.”
Trump framed the signing as part of his trade agenda, but concerns remain about his allies controlling a platform that shapes US political discourse.
“I always like MAGA-related. If I could make it 100% MAGA, I would, but it’s not going to work out that way, unfortunately. No, everyone’s going to be treated fairly. Every group, every philosophy, every policy will be treated very fairly,” Trump jokingly said about algorithmic favouritism.
The signing also sets the stage for Trump’s first in-person meeting with Xi at the upcoming APEC Summit in South Korea.
Who will own TikTok’s US division
The ownership structure is still being worked out. However, Trump revealed that Oracle and its cofounder, Larry Ellison, would play a “big” role in running TikTok, as Oracle already handles much of the app’s US data storage.
Trump also stated that conservative media mogul Rupert Murdoch, who owns Fox Corporation and Fox News, would be an investor, while tech billionaire Michael Dell would hold a board seat. He hinted at three additional “blue-chip” backers, though their names have not been disclosed.
For Rupert and Lachlan Murdoch, a stake in TikTok could help reach younger audiences beyond traditional TV and print, where their News Corp. empire dominates—and possibly make up for the failed MySpace acquisition nearly two decades ago.
Fox’s role remains uncertain, but a TikTok deal would add to the Murdochs’ existing minority stakes in betting firms Flutter and FanDuel, while reinforcing Lachlan’s succession following a recent family trust restructuring that secured him control of the empire.
“This deal will allow for the US to control the app’s algorithm. It’s actually going to be American-operated all the way,” Vance said.
“We want the business to make decisions about content based on the interest of the business and based on the interest of the users, and that’s what we think will happen,” he added, highlighting how businesses can boost the app’s content decisions.
What Donald Trump said about the TikTok agreement
During the signing of the agreement, Trump said, “This is going to be American-operated all the way. I have great respect for President Xi, and I very much appreciate that he approved the deal, because to get it done properly, we really needed the support of China and the approval of China.”
Trump framed the signing as part of his trade agenda, but concerns remain about his allies controlling a platform that shapes US political discourse.
“I always like MAGA-related. If I could make it 100% MAGA, I would, but it’s not going to work out that way, unfortunately. No, everyone’s going to be treated fairly. Every group, every philosophy, every policy will be treated very fairly,” Trump jokingly said about algorithmic favouritism.
The signing also sets the stage for Trump’s first in-person meeting with Xi at the upcoming APEC Summit in South Korea.
Who will own TikTok’s US division
The ownership structure is still being worked out. However, Trump revealed that Oracle and its cofounder, Larry Ellison, would play a “big” role in running TikTok, as Oracle already handles much of the app’s US data storage.
Trump also stated that conservative media mogul Rupert Murdoch, who owns Fox Corporation and Fox News, would be an investor, while tech billionaire Michael Dell would hold a board seat. He hinted at three additional “blue-chip” backers, though their names have not been disclosed.
For Rupert and Lachlan Murdoch, a stake in TikTok could help reach younger audiences beyond traditional TV and print, where their News Corp. empire dominates—and possibly make up for the failed MySpace acquisition nearly two decades ago.
Fox’s role remains uncertain, but a TikTok deal would add to the Murdochs’ existing minority stakes in betting firms Flutter and FanDuel, while reinforcing Lachlan’s succession following a recent family trust restructuring that secured him control of the empire.
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