Trump to approve Oracle-led TikTok deal soon: What's the deal
Looks like TikTok is staying in the US—President Trump is expected to approve a new deal soon.
After months of back-and-forth between the US and China, TikTok's American assets will shift from ByteDance (its Chinese parent) to mostly US ownership.
The app's algorithm will also be secured, retrained, and operated in the United States outside of ByteDance's control.
Deal details and US investor stakes
Big names like Larry Ellison, Michael Dell, and Lachlan Murdoch are named by Trump as involved as US investors, with Oracle and Silver Lake among the new US backers.
Together, American investors are set to own about 80% of TikTok's US business, while ByteDance's share drops below 20%.
Oracle will also handle all American user data on its own servers—this move aims to calm worries about privacy and national security that have been swirling for ages.
The White House hasn't officially commented yet, but this could finally bring some clarity for TikTok fans in the US.