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International Business Times

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Trump Allies To Control TikTok Under New US Deal

TikTok Donald Trump United States Xi Jinping Executive Order ByteDance

US President Donald Trump signed an executive order approving a sale of TikTok’s US operations, following a 2024 law requiring parent company ByteDance to divest or face a ban (Credit: AFP)

Donald Trump on Thursday signed an executive order laying out a proposed deal for a US version of TikTok that would see Chinese ownership reduced to 20 percent and put control in the hands of the president's allies.

At a signing ceremony at the White House, Trump said the US version of the app would be run by "highly sophisticated" investors including Larry Ellison, the founder of cloud giant Oracle, tech investor Michael Dell and media tycoon Rupert Murdoch.

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