President Donald Trump on Thursday signed an executive order approving a proposal that would keep TikTok alive in the U.S. in a transaction that Vice President JD Vance said values the business at $14 billion.

The deal satisfies the requirements of a national security law requiring China-based ByteDance to sell TikTok's U.S. operations or face an effective ban in the country, according to the executive order. Under the terms, which China must still approve, a new joint-venture company will oversee TikTok's U.S. business, with ByteDance retaining less than a 20% stake.

Enterprise tech giant Oracle , Silver Lake and the Abu Dhabi-based MGX investment fund will be main investors in TikTok's U.S. business, controlling a roughly 45% stake in the entity, while ByteDance investors and new ho

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