Trump Approves US Consortium TikTok Deal with Oracle, China Retains Minority Stake

President Donald Trump approved an executive order to keep TikTok operating in the U.S. by allowing a consortium of American investors to take majority ownership, aiming to address national security concerns while preserving the app's presence. The deal includes Oracle, private equity firm Silver Lake, and Abu Dhabi's MGX, with ByteDance retaining less than 20% ownership and one board seat, ensuring U.S. control over user data and the algorithm. Vice President J.D. Vance expressed confidence that the deal successfully separates TikTok's U.S. operations from Chinese influence, emphasizing American oversight to prevent foreign propaganda or data misuse. Despite China's required approval, which remains pending, White House officials are optimistic the agreement will be finalized, with Oracle managing secure cloud data storage. Critics, however, view the deal as a form of crony capitalism, linking it to Trump's political and financial allies and raising concerns about media consolidation. The agreement aims to balance national security priorities with the interests of millions of American users, creators, and advertisers dependent on the platform.