Overview

• The executive order declares the proposed transaction satisfies the 2024 sell-or-ban law’s divestiture standard and pauses enforcement for 120 days.
• A new U.S.-based joint venture would run TikTok’s American business with about 80% U.S. ownership and less than 20% retained by ByteDance.
• Oracle is designated to host U.S. user data and to oversee a retrained recommendation algorithm operating on U.S. infrastructure.
• Vice President J.D. Vance said the U.S. entity is valued at roughly $14 billion, with investors named by officials including Oracle’s Larry Ellison, Silver Lake, Rupert Murdoch and Michael Dell.
• The agreement is not finalized and still requires legal and financial completion as well as approval from Chinese authorities, despite Trump’s claim that Xi Jinping gave a go-ahead.