Trump allies to control TikTok under new US deal
Summary
Donald Trump signed an executive order to create a US version of TikTok controlled by his allies, reducing Chinese ownership to 20%, with investors including Larry Ellison and Michael Dell. The move addresses national security concerns and involves approval from Chinese President Xi Jinping.
Key Points
- Donald Trump signed an executive order for a US version of TikTok controlled by his allies including Larry Ellison, Michael Dell, and Rupert Murdoch.
- Chinese ownership of TikTok in the US would reduce to 20 percent under the proposed deal.
- The app's algorithm will be 'continuously monitored' to prevent undue influence.
- Chinese President Xi Jinping approved the deal during a phone call with Trump, with Beijing calling for open and fair business treatment.
