President Donald Trump signed a new deal from the Oval Office Thursday afternoon that the White House claims with “save TikTok” while protecting the data of the American people from foreign regimes.
“President Trump has determined that the divestiture outlined in a proposed framework agreement, in which TikTok’s U.S. application would be operated by a new joint-venture company based in the United States, is a ‘qualified divestiture,’” the White House says. “It will be majority-owned by U.S. investors, operated in the U.S. by a board of directors with national security and cybersecurity credentials, and subject to strict rules to protect Americans’ data and our national security.”
🚨 @POTUS signs an Executive Order saving TikTok from a ban while protecting America’s national security. pic.twitter.com/E2baS1GVqS
— Rapid Response 47 (@RapidResponse47) September 25, 2025
Previously TikTok was owned by ByteDance, a company run by the Chinese Communist Party and used as a spy tool against Americans and users around the globe.
“ByteDance will hold less than 20% of the stock as required by law, choose only one director of the seven-seat board, and be excluded from the company’s security committee,” the White House counties.
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So, who now owns the social media application?
“Oracle—one of the nation’s leading technology companies—will act as TikTok’s security provider and independently monitor and assure the safety of all operations in the U.S.,” the White House details.
Last year Congress passed bipartisan legislation to ban the Chinese owned application unless ByteDance divested from the company, which was upheld by the U.S. Supreme Court. Until now, the CCP and ByteDance have refused to give up data access and algorithm control of the app.
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