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Trump to Sign Executive Order Approving TikTok Divestiture Deal

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President Donald Trump will sign an executive order on Thursday affirming that a deal under negotiation to sell TikTok’s U.S. operations meets the requirements of a 2024 law, according to a White House source.

The law, passed last year by Congress, mandates that TikTok’s Chinese parent company ByteDance must divest its U.S. assets or face a ban of the short video app, which has 170 million American users.

Trump, who has 15 million followers on his personal TikTok account, has publicly credited the platform with helping him win re-election in 2024. The White House itself launched an official TikTok account last month.

The administration has delayed enforcement of the divestiture law until mid-December to give time for negotiations, including lining up American investors and structuring the transaction to qualify as a full separation from ByteDance.

Thursday’s executive order is also expected to extend the compliance deadline, providing additional time for the deal to be finalized.

Blackstone Considers Minority Investment in U.S. TikTok Spinoff

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Private equity giant Blackstone is exploring a potential minority investment in TikTok’s U.S. operations, joining a group of non-Chinese shareholders led by Susquehanna International Group and General Atlantic. This group is actively discussing fresh capital infusion to bid for TikTok’s U.S. business, with plans to spin off the U.S. operations into a separate entity, reducing Chinese ownership below the 20% threshold required by U.S. law.

This move comes as TikTok’s future in the U.S. hangs in the balance due to national security concerns. A law passed last year mandates ByteDance to divest TikTok by January 19 or face a potential ban. While the deadline has been extended under President Trump’s administration, negotiations continue to ensure compliance with the law.

ByteDance and its investors, including Blackstone, have yet to disclose the amount of new investment needed to meet the divestment requirements. Legal filings indicate that global investors own about 58% of ByteDance, with the company’s Chinese founder Zhang Yiming holding another 21%. Employees from various nationalities, including 7,000 Americans, own the remaining shares.

Discussions surrounding TikTok’s future involve significant U.S. government input, with the White House acting as a key player in the deal-making process.

Billionaire McCourt Open to Keeping Original Investors in Any TikTok Deal

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Business magnate Frank McCourt has expressed a willingness to include TikTok’s current investors, including its founder, in any potential deal to purchase the U.S. operations of the app, which is currently owned by the Chinese company ByteDance. McCourt confirmed in an interview with Reuters that his consortium, Project Liberty, has formally offered to buy TikTok from ByteDance, with a valuation of the app—excluding its algorithm—set at approximately $20 billion.

The bid, McCourt noted, is not contingent upon the involvement of major U.S. investment firms like General Atlantic, Susquehanna, and Sequoia Capital, who hold stakes in ByteDance. McCourt, however, indicated that his group is open to keeping existing investors, including ByteDance founder Zhang Yiming, involved in the deal, pending approval from the Committee on Foreign Investment in the United States (CFIUS).

ByteDance did not respond to a request for comment regarding the proposed deal. McCourt also stated that Project Liberty has developed a technological solution that addresses the national security concerns that led to U.S. legislation demanding ByteDance divest its ownership of TikTok by Sunday, or face a potential ban in the U.S.

In related developments, President-elect Donald Trump’s incoming national security adviser affirmed that the new administration will work to keep TikTok operating in the U.S. if a viable deal is reached.