President Trump is expected to sign a deal Thursday that will give majority control of TikTok to a group of American investors and keep the app available to US users, a White House official told The Post.
Oracle — co-founded by billionaire Trump ally Larry Ellison — will continue to serve as the app’s data and security provider, according to a proposed framework reported earlier this week .
The app’s operations will be moved into a joint venture based in the US, in which investors like Oracle and private-equity firm Silver Lake will own a combined 80% — sinking Chinese parent ByteDance’s stake to less than 20%.
The app’s operations will be moved into a joint venture based in the US. REUTERS
Under the new agreement, China will not be able to access US user data.
The new company will