By bizn_fun 
Trump’s TikTok deal will see US investors take over the app’s operations in the country.
Trump on Thursday said a list of the “sophisticated” investors would soon be released, though he mentioned a few people who will be involved: Tech giant Oracle and the chairman of its board Larry Ellison, who is a close Trump ally; Fox Corporation’s Rupert Murdoch; and Michael Dell, head of Dell Technologies.
The investors will control the algorithm which powers the US version of TikTok, and Americans will hold six of the seven seats on the board of directors which will oversee it. According to the executive order signed by Trump, China will own less than 20% of the new joint venture.
The algorithm is the technology which determines what users see in their feed, and is seen as the most valuable – and controversial – part of the app.
Under the deal, the American TikTok will use a new algorithm which will be based on the existing version, but retrained on US user data, according to White House officials.
“Trusted security partners” will monitor software updates, algorithms and data flows, according to the executive order.
Oracle already stores TikTok’s American user data on its US-based servers as part of an existing agreement, and this will continue.
Trump and Vance said this arrangement meets the requirements for the sale of TikTok that were set out in the 2024 law and, therefore, ensures the social media app can continue operating in the US.