Trump Administration Receives $10 Billion From TikTok
The yearslong fight over TikTok’s ownership concluded in January when investors creating a US-controlled TikTok agreed to pay the Trump administration a $10 billion fee, roughly 70% of the app’s $14 billion valuation, the Wall Street Journal reported Friday. The sale—brokered by President Trump and led by Larry Ellison’s consortium including Oracle, Silver Lake and MGX—raises conflict-of-interest and governance concerns.
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Sources
- Read OriginalThe Trump Administration Will Somehow Make $10 Billion Off the TikTok Dealmotherjones.com
- Read OriginalTrump administration is allegedly collecting $10 billion on the TikTok dealtheverge.com
- Read OriginalDonald Trump Reportedly Receiving $10 Billion From TikTok Dealhiphopwired.com
