Trump Clears Way for TikTok U.S. Sale

President Trump signed an executive order that paves the way for U.S. and global investors to acquire TikTok’s U.S. operations, says the plan meets a 2024 law that could otherwise have mandated a ban, and postpones enforcement until Dec. 16 to allow separation and approvals. Vice President J.D. Vance described a potential valuation of about $14 billion and said U.S. investors would control the algorithm to protect Americans’ data and guard against foreign propaganda. Reported participants include Oracle (described as playing a big part), private equity firm Silver Lake and Abu Dhabi’s MGX; the administration says Oracle, Silver Lake and MGX would combine for roughly 45% ownership and that Oracle will help secure the algorithm. The administration also said China’s leaders, including Xi Jinping, approved moving forward, and Trump said the venture will be American operated. Lawmakers and analysts are seeking more deal details, and some market commentators questioned whether the $14 billion valuation is accurate or justified.