President Trump is expected to sign a deal Thursday that will give majority control of TikTok to a group of American investors and keep the app available to US users, a White House official told The Post.
Oracle — co-founded by billionaire Trump ally Larry Ellison — will continue to serve as the app’s data and security provider, according to a proposed framework reported earlier this week.
The app’s operations will be moved into a joint venture based in the US, in which investors like Oracle and private-equity firm Silver Lake will own a combined 80% — sinking Chinese parent ByteDance’s stake to less than 20%.
Under the new agreement, China will not be able to access US user data.
The new company will have a seven-member board of directors.
ByteDance will only be allowed to nominate one member.
ByteDance will copy the algorithm it uses to recommend content to users and lease it to the new controlling US entity, according to the Wall Street Journal.
Control of the algorithm was a major sticking point during negotiations with China, the White House official previously told The Post.
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