Trump signs executive order to advance sale of TikTok’s US assets to American-led investor group

President Donald Trump signed an executive order Thursday that clears the way for an American-led investment group to purchase the U.S. assets of the video-sharing TikTok app. 

The deal will allow TikTok's U.S. operations to be separated from TikTok's current owner, the Chinese company ByteDance. 

U.S. software company Oracle will lead a group of American investors, which also includes private equity firm Silver Lake, according to Fox News. 

The group will own a majority share of the app, while ByteDance will still own a 20% stake in the company. Existing shareholders, including global firms, will hold the rest of the shares. 

Vice President JD Vance praised the deal, which avoids a ban on the app in the United States, and said it accomplishes the administration's key priorities of keeping the app functional and protecting American data. Oracle will provide security for the new TikTok.

“The fundamental thing that we wanted to accomplish is that we wanted to keep TikTok operating, but we also wanted to make sure that we protected Americans’ data privacy as required by law, both because it’s the right thing to do, but also because it’s a legal requirement of the law that was passed last year by Congress,” Vance said in the Oval Office.

Vance said the platform is estimated to be worth $14 billion. 

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.