President Donald Trump on Thursday signed an executive order approving the sale of TikTok’s U.S. operations to a consortium of American investors, a move intended to resolve long-running national security concerns over the Chinese-owned social media platform.
The consortium includes Oracle co-founder Larry Ellison, Fox Corporation chairman Rupert Murdoch and his son Lachlan, and Dell Technologies founder Michael Dell—all prominent Trump allies. Their involvement has raised questions about potential political influence on the platform, which has more than 170 million American users.
Speaking at the White House, Trump dismissed suggestions that the new ownership would tilt TikTok in his political favor. “I always like MAGA-related. If I could, I’d make it 100% MAGA related,” he said. “But it’s not going to work out that way. Unfortunately, no, everyone’s going to be treated fairly. Every group, every philosophy, every policy, will be treated very fairly.”
The deal stems from bipartisan legislation passed in 2024 requiring ByteDance, TikTok’s Beijing-based parent company, to divest the majority of its U.S. business or face a ban. Under the new structure, ByteDance will retain less than 20% ownership, while American investors will hold controlling stakes. The restructured firm is expected to be valued at about $14 billion.
Vice President J.D. Vance, who led negotiations with ByteDance, described the outcome as a win for U.S. security. “We wanted to keep TikTok operating, but we also wanted to make sure that we protected Americans’ data privacy,” he said. “This deal really does mean that Americans can use TikTok with more confidence than they have in the past because their data is going to be secure, and it’s not going to be used as a propaganda weapon against our fellow citizens.”
A central condition of the agreement is that American investors will control TikTok’s algorithm, addressing concerns that Chinese authorities could use the platform to influence political discourse in the United States.
The order represents the latest chapter in a years-long battle over TikTok’s future. National security officials have repeatedly warned the app could be exploited by Beijing to monitor U.S. citizens or shape online narratives. Last year, former President Joe Biden signed a law granting the White House authority to restrict or force divestment of foreign-owned apps considered security risks.
While Trump emphasized TikTok’s role in reaching young voters during his 2024 campaign, he insisted the restructuring would ensure neutrality. “We got record votes with the young voters,” he said. “So I was a little bit prejudiced in that way toward TikTok—it was very good and very meaningful.”
Despite Thursday’s signing, the agreement still requires regulatory approval, and the full lineup of investors has yet to be finalized. For now, the deal keeps TikTok online in the United States, where Pew Research Center estimates that 43% of adults under 30 regularly get their news from the platform.