By skyforbes 
A historic decision was made yesterday following years of negotiations regarding the acquisition of the US version of the (Chinese) application TikTok by American investors. The decision was announced at a press conference where the US President and Vice President spoke about reaching an agreement on the TikTok application.
The President explained that this agreement will allow TikTok to continue operating while ensuring the protection of American users’ data. He mentioned that he had spoken with Chinese President Xi and received his approval.
The President and Vice President indicated that the agreement stipulates that US investors and companies will take control of TikTok, and major companies like Oracle will play a key role in data security. They also affirmed that this agreement ensures TikTok will not be used as a propaganda tool by any foreign government, and the application’s algorithm will be under the control of the US entity to ensure fairness in content display for all users, regardless of their political leanings.
They stressed that the agreement achieves the privacy protection of Americans’ data, which is a legal requirement, and that it came after initial resistance from the Chinese side. They concluded by saying that this agreement represents an important day, especially for young people who wished for TikTok to continue.
According to the available information, the agreement regarding TikTok in the United States is not a complete sale of the company, but a majority acquisition deal aimed at transferring control to American investors.
Deal Details:
- Deal Value: The US President announced yesterday, Thursday, that the deal is valued at approximately $14 billion USD.
- Ownership: Under this agreement, a consortium of American investors will take control of 80% of the new company, while the Chinese parent company, ByteDance, will retain a minority ownership of less than 20%.
- Management and Control: The management and control of the application will be entirely American, with Americans holding six out of seven seats on the new board of directors. Furthermore, the new US entity will control the application’s algorithm to ensure data security and prevent the platform from being used as a propaganda tool by any foreign government.
- Investors: Among the key companies and investors participating in the deal are major companies such as Oracle, and other investment firms.
- The price of the deal will be paid to ByteDance, the Chinese parent company that owns the TikTok application. The deal is related to the sale of TikTok’s US operations to a consortium of American investors, and therefore, the funds will go to the selling company.
It’s worth noting that reports also indicate the US government may receive fees or taxes from this transaction.
Simply put, the deal does not mean a complete sale of TikTok, but a restructuring of the application’s US operations, ensuring the transfer of control over data and management to American hands, in exchange for a substantial financial value.