Trump signs order allowing proposed TikTok deal to move forward

President Trump signs executive orders

President Trump signs executive orders and takes questions from reporters in the Oval Office.

WASHINGTON - President Donald Trump on Thursday signed an executive order allowing a deal which will put TikTok under U.S. ownership. 

Chinese President Xi Jinping "gave us the go-ahead" to proceed with the deal, according to Trump.

Who will take over TikTok U.S.? 

Dig deeper:

A group led by software giant Oracle that includes private equity firm Silver Lake and UAE state-owned investment firm MGX will be the main investors in TikTok U.S., with a combined 45% ownership stake, according to a report by CNBC citing sources familiar with the matter. 

US President Donald Trump signs an executive order about Tiktok in the Oval Office of the White House in Washington, DC, on Sept. 25, 2025. (Photo by SAUL LOEB/AFP via Getty Images)

The White House previously indicated Oracle and Silver Lake would be among the main owners of TikTok U.S. Earlier this week, a White House official said that ByteDance would own less than 20% of the firm, while existing shareholders and global firms would account for the remainder of the company's ownership. ByteDance investors would hold the 35% stake, per the report.

The backstory:

President Joe Biden signed legislation last year calling for China’s ByteDance to sell TikTok’s assets to an American company by early this year or face a nationwide ban.

The Protecting Americans from Foreign Adversary Controlled Applications Act (PAFACA) requires that apps like TikTok be restricted in the U.S. unless they're divested from ownership subject to control by adversarial foreign governments, such as the Chinese Communist Party.