President Donald Trump has signed an executive order permitting an American investor group to acquire TikTok’s U.S. operations, allowing the app to remain accessible in the country. Vice President JD Vance estimated the deal values TikTok U.S. at around $14 billion.
The move follows a national security law introduced under the Biden administration, which required TikTok to divest its U.S. business or face a ban. Trump’s order suspends enforcement of this law for 120 days to enable the divestment plan’s execution.
TikTok’s parent company, ByteDance, has not yet publicly responded but stated on September 19 it will comply with applicable laws to keep the app available to American users.
Trump said he had secured approval from Chinese President Xi Jinping, stating, “I spoke with President Xi; we had a good talk… he said, ‘Go ahead with it.’”
Under the order, TikTok’s U.S. operations will establish a new board, with control over the algorithm, source code, and content moderation transferring to American owners. Oracle will manage security and provide computing services.
Trump emphasised the app’s US ownership: “It’s owned by Americans. This is going to be American operated all the way.” Oracle, private equity firm Silver Lake, and Abu Dhabi-based MGX are reported to hold a combined 45% stake.
Vance said the deal will enable Americans to use TikTok with more confidence because their data is secure and it won’t be used as a propaganda weapon.
Trump assured that every group, every philosophy, every policy will be treated fairly when asked about potential bias in the app’s content algorithm.
This marks the fourth extension of ByteDance’s deadline to divest TikTok’s U.S. operations. Trump first sought to ban TikTok in 2020, a position later supported across party lines due to national security concerns.
The deal could set a precedent for foreign tech firms seeking U.S. market access while addressing security issues. Regulatory approval will hinge on thorough reviews of data protection and content controls.