Former US President Donald Trump has signed an executive order that sets out a new plan for TikTok’s operations in the country, giving control of the platform to a group of his allies.
The move aims to reduce Chinese ownership of the app to about 20 percent in the United States.
TikTok, owned by China’s ByteDance, has more than 170 million American users. For years, Washington has raised concerns about national security, warning that the Chinese government could access personal data or influence users through the app’s algorithm. To address this, US lawmakers under Trump’s predecessor, Joe Biden, passed a law forcing ByteDance to either sell its American branch or face a ban.
The deal outlined in the new order would hand the US version of TikTok to a group of investors that includes Oracle co-founder Larry Ellison, technology investor Michael Dell, media businessman Rupert Murdoch, and firms such as Silver Lake Management and Andreessen Horowitz. Trump explained that the new structure would allow Americans to keep using the app while reducing risks to US security.
A White House official confirmed that the American version of TikTok would operate with its own model of the app’s algorithm, often described as the key to its global success. The official added that the system would be closely observed to make sure it is not controlled by outside influence.
The order also extended the deadline for ByteDance to complete the sale, moving it to January 23, 2026, after granting an additional 120-day delay. The company had earlier faced a December 16 deadline, which had already been postponed multiple times.
Vice President JD Vance, who led the negotiations, said the new US entity would be valued at around $14 billion, though the final figure would depend on investors. According to Trump, Chinese President Xi Jinping gave his approval during a phone call, making it possible for the transaction to proceed smoothly.
China, through its foreign ministry, repeated its position that it expects fair and open treatment for Chinese companies in the United States. State broadcaster CCTV also reported that Xi supported a market-based agreement in line with Chinese laws.
TikTok has not issued an official statement on the deal or its terms.