Trump administration on track to receive $10 billion fee for securing TikTok sale
Investors reportedly involved in the deal include cloud-computing company Oracle, private-equity firm Silver Lake and Abu Dhabi-based investment firm MGX…
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The Trump administration will receive about a $10 billion transaction fee from investors involved in the recently sealed deal to take control of TikTok’s U.S. operations, according to a Wall Street Journal report on Friday.
The payment stems from an agreement in which a group of investors with connections to the administration took control of TikTok’s U.S. operations from its Chinese parent company, ByteDance, according to sources cited in the report.
The fee will be made separate from the capital investments related to establishing a new U.S.-based entity to operate the TikTok app domestically.
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