Trump Clears Way for Cronies t... Note

Trump Clears Way for Cronies to Buy TikTok for $14 Billion

President Trump has signed an executive order to enable a U.S.-based TikTok company. This initiative aims to allow a coalition of investors to operate an American version of TikTok, distinct from its Chinese owner ByteDance. The administration has spent months seeking non-Chinese investors for this venture. Vice President JD Vance has stated the U.S. TikTok company would be valued at $14 billion. While the White House has not revealed all owners, potential investors include allies of Mr. Trump. Oracle, the software giant, will acquire a stake in U.S. TikTok. Media mogul Rupert Murdoch is also reportedly involved through Fox Corporation. Critics question the $14 billion valuation as unrealistically low. A key concern raised is the executive order's provision for "intense monitoring." Experts point out that monitoring software updates and algorithms is not the same as controlling them, suggesting a potential loophole.