US Consortium Nears Multibillion-Dollar TikTok US Operations Takeover

President Donald Trump is expected to sign an executive order approving a deal to divest TikTok's US operations from its Chinese parent company ByteDance, complying with a 2024 law that mandates American ownership. The deal, valued in the billions, will see US investors including Larry Ellison of Oracle, Michael Dell of Dell Technologies, and media moguls Rupert and Lachlan Murdoch take majority control, leaving ByteDance with less than 20% ownership. Trump has described the investor group as a "consortium of patriots" tasked with safeguarding US data from foreign influence, highlighting the strategic mix of technological expertise, media influence, and financial power. Six of the seven board seats overseeing TikTok's US operations will be held by Americans, ensuring American oversight on a platform with 170 million US users. This move aims to balance national security concerns with maintaining TikTok's presence in the US market, while also potentially boosting Trump's appeal among younger voters ahead of the 2024 elections. Despite past tensions, Trump has aligned with these business allies to navigate regulatory hurdles and secure American control over the influential social media app.