Overview

• An executive order requires any sale of TikTok’s U.S. operations to meet national-security conditions set by a 2024 law that mandates divestiture or a ban.
• Vice President JD Vance said the new U.S. entity would be valued at about $14 billion, with the White House describing a structure to keep the app operating under American control.
• Oracle, Silver Lake and Abu Dhabi’s MGX are in talks to take roughly 15% each and secure board seats, while Trump has named Larry Ellison, Michael Dell and Rupert Murdoch as expected participants.
• The framework under discussion would reduce ByteDance’s stake to below 20%, place Americans in six of seven board seats, and put the recommendation algorithm and U.S. user data under U.S. governance with Oracle’s infrastructure role.
• Trump says Xi Jinping approved the approach, but ByteDance and Chinese authorities have not publicly confirmed consent, with Beijing stressing that any deal must comply with Chinese law.