Trump administration on track to receive $10 billion fee for securing TikTok sale
Investors reportedly involved in the deal include cloud-computing company Oracle, private-equity firm Silver Lake and Abu Dhabi-based investment firm MGX…
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The Trump administration will receive about a $10 billion transaction fee from investors involved in the recently sealed deal to take control of TikTok’s U.S. operations, according to a Wall Street Journal report on Friday.
The payment stems from an agreement in which a group of investors with connections to the administration took control of TikTok’s U.S. operations from its Chinese parent company, ByteDance, according to sources cited in the report.
The fee will be made separate from the capital investments related to establishing a new U.S.-based entity to operate the TikTok app domestically.
Investors reportedly involved in the deal include cloud-computing company Oracle, private-equity firm Silver Lake and Abu Dhabi-based investment firm MGX.
Sources in the report said the investors and their partners paid about $2.5 billion to the U.S. Department of the Treasury when the transaction closed in January.
Additional payments are expected to be made over time until the total reaches roughly $10 billion.
The deal follows years of national security concerns raised by U.S. officials about TikTok’s Chinese ownership and the potential handling of American user data, issues that ultimately led to negotiations aimed at shifting control of the platform’s U.S. business to investors aligned with the United States.
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