US EditionTrump Administration Set to Receive $10 Billion Fee for Brokering TikTok Deal
Investors will pay $10 billion to the Trump administration to finalize U.S. control of TikTok, addressing national security concerns and protecting data of over 200 million Americans.
- President Donald Trump's administration is set to receive a roughly $10 billion fee from investors in the deal to establish a majority American-owned joint venture for TikTok's U.S. operations, according to the Wall Street Journal.
- TikTok USDS Joint Venture LLC will secure U.S. user data, apps and algorithms through data privacy and cybersecurity measures.
- Investors Oracle, Silver Lake, Abu Dhabi's MGX and other backers paid about $2.5 billion to the Treasury Department and are to make subsequent payments until the total reaches $10 billion.
- Legal challenges followed the deal, as retail investors sued President Trump and U.S. Attorney General Pam Bondi earlier this month seeking to reverse the approval, officials said the fee is justified.
29 Articles
29 Articles
The Chinese TikTok owner ByteDance has, as reported, concluded an agreement in January to establish a majority-owned joint venture. For this rescue of the popular short video app, the U.S. government seems to raise a juicy fee. According to a report by the Wall Street Journal, Washington will receive ten billion US dollars (about 8.7 billion euros) from investors for the acquisition of the U.S. business of TikTok. According to this report, Oracl…
For years, the ownership of Tiktok has been disputed. In January, there is an agreement that moves the app's business to a majority-owned US-owned company. Donald Trump's government is now paying for his role in the process.
Trump Administration Poised to Pocket $10 Billion Fee for Brokering TikTok Deal
Donald Trump’s administration is set to pocket around $10 billion for brokering the recently completed TikTok deal, which helped keep the social media app active in the U.S., according to the Wall Street Journal. ByteDance, TikTok’s Chinese parent, finalized a January deal to create a majority American venture to manage the app’s U.S. data, sidestepping a ban that would affect hundreds of millions of users. The new venture, named TikTok USDS Joi…
Trump Administration To Receive $10 Billion Fee For TikTok Deal: Report
TikTok's Chinese owner, ByteDance, in January finalised a deal to establish a majority American-owned joint venture that will secure US data, to avoid a US ban on the short video app used by over 200 million Americans.
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