Trump signs TikTok deal giving American investors majority control after talks with Xi
Deal hands TikTok's U.S. operations to a U.S.-based investor consortium; Trump says Xi approved the plan and he will meet Xi at the APEC summit in South Korea.
President Donald Trump signed a deal Thursday to transfer operational control of TikTok to a consortium of American investors, giving them a majority stake in the app's U.S. operations, after a 'very good talk' with Chinese President Xi Jinping.
Trump said 'we have great American investors,' but named only Oracle co-founder Larry Ellison as a disclosed participant and did not enumerate the others. Officials described the arrangement as a newly American-run TikTok that would treat 'every philosophy' fairly, addressing long-standing concerns from U.S. lawmakers that content biased toward China had led to unfavorable treatment of certain groups. He added, 'If I could make it 100% MAGA, I would, but it's not going to work out that way. Unfortunately, no, everyone's going to be treated fairly.' 'Every group, every philosophy, every policy will be treated very fairly.'
Officials stressed that the governance shift would place day-to-day operations under a U.S.-based consortium, with oversight to ensure compliance with U.S. laws and consumer protections.
Trump said the deal followed his discussion with Xi and indicated he plans to meet Xi next month in South Korea on the margins of the Asia-Pacific Economic Cooperation summit.
The move comes amid ongoing U.S. scrutiny of TikTok's ownership structure and concerns about data privacy and content moderation under Chinese influence. Lawmakers and administration officials have pressed for stronger safeguards and more visibility into how data is stored and who has influence over algorithmic decisions. The company said it would undergo reviews to ensure compliance with U.S. laws and consumer protections.
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