Summary
President Trump approved the sale of TikTok's U.S. operations to American investors for $14 billion. American companies like Oracle and other investors will own most of the new company, while TikTok's parent company, ByteDance, will keep a small financial interest. Analysts question the low sale price and the political influences on the deal.
Key Facts
- The sale of TikTok’s U.S. business is valued at $14 billion.
- Oracle and American investors will control 80% of the new company.
- ByteDance will have less than a 20% ownership but will earn from profits.
- The deal was not open to bids, impacting the sale price.
- Comparisons show TikTok's valuation is much lower than similar tech platforms.
- The sale involved investors who are supporters of Trump.
- TikTok's code is being duplicated to create a U.S.-only version of the app.
