Issue resolved: Trump signed an executive order transferring TikTok's US assets to a group of major US investors

The long process of settling the complex relationship between TikTok and the US government is coming to an end.

On 25 September, Donald Trump signed an executive order that places TikTok's operations in the country at the disposal of a number of large US investors.

Here's What We Know

The value of TikTok's assets in the US is estimated at $14 billion. At a press conference, Trump commented on the settlement of the situation as follows:

I spoke with Xi Jinping, we had a good conversation. I told him about our plans and he said: "Take action".

A board of directors will be formed to manage TikTok's operations in the US, which is required to comply with US user data protection and national security regulations. According to CNBC, Oracle, Silver Lake and MGX will get 45% of US TikTok, while ByteDance investors (TikTok's parent company) will get 35%.

The recommendation algorithm, code and content moderation system of TikTok in the US will be taken over by the new owners - this is a guarantee that user data will not be transferred to Chinese intelligence services, which was the main reason for claims to the platform from the US government.

Source: White House, CNBC