U.S. President-elect Donald Trump has expressed his intention to secure at least a 50% ownership stake in the Chinese-owned short-form video app TikTok for American investors.
Speaking at a rally in Washington on January 19, just before his inauguration, Trump emphasized that this ownership structure is crucial for the app's continued operation in the United States.
During his address, Trump pointed out that TikTok's value is contingent upon government approval, stating, "TikTok is worth nothing, zero without an approval."
He argued that with U.S. ownership, the app could potentially be valued at hundreds of billions or even trillions of dollars. Trump proposed a joint venture that would allow the United States to partner with TikTok's current owners, which he believes would attract numerous bidders and ensure the app is managed responsibly.
On the same day, TikTok briefly suspended access for its 170 million American users due to a new U.S. law mandating that its Chinese parent company, ByteDance, either divest its ownership or face a ban. This law was upheld by the U.S. Supreme Court just days prior, leading to heightened tensions regarding national security concerns surrounding data privacy.
In response to the situation, Trump announced plans to issue an executive order on his inauguration day that would delay the enforcement of the ban.
He reassured service providers that they would not face penalties for keeping TikTok operational during this negotiation period. TikTok later confirmed it was in the process of restoring service for its users.
