In a significant development for the future of TikTok in the United States, a new deal is being finalized that would see the popular video-sharing app’s US operations controlled by an American-led board. The White House announced on Saturday that the new board will have seven seats, with six of them held by Americans. This move is a direct response to longstanding national security concerns over the app’s Chinese parent company, ByteDance.
White House Press Secretary Karoline Leavitt confirmed the details to Fox News, adding that a deal could be signed “in the coming days.” This agreement follows a law passed under President Joe Biden’s administration that threatened to ban the app if ByteDance did not sell its US operations.
For years, US policymakers, including President Donald Trump during his first term, have warned that China could use TikTok to collect data on Americans or influence the content they see. While the app’s ban has been repeatedly delayed, Trump has now used the platform extensively to connect with young voters during his 2024 presidential campaign.
Oracle’s Role and Financial Details
The deal reportedly involves tech giant Oracle, owned by billionaire and major Trump supporter Larry Ellison. Leavitt’s comments seemed to confirm Oracle’s involvement, stating, “The data and privacy will be led by one of America’s greatest tech companies, Oracle, and the algorithm will also be controlled by America as well.”
When asked about the deal, President Trump said, “We have great American patriots that are buying it. Very substantial people.” He declined to name the seventh board member, stating that the information would be revealed later.
The deal was a topic of discussion in a recent phone call between Trump and Chinese President Xi Jinping. While Trump said Xi had “approved” the deal, China has yet to officially confirm any agreement.
According to the Wall Street Journal, the US government could receive a multi-billion-dollar fee from investors as part of the agreement, adding a significant financial component to the national security-driven transaction.