A group of U.S. investors will take over the massive video-sharing platform TikTok, President Donald Trump said Thursday.

Trump signed an executive order certifying a transaction for TikTok complies with a 2024 law requiring the platform’s Chinese parent company, Byte Dance Ltd., divest TikTok or face a ban in the U.S.

The company is valued at $14 billion in the deal, Vice President JD Vance said. A new U.S.-backed joint venture will hold 80% of the company, while Byte Dance will retain a 20% stake, according to the order. The U.S. parties will control the app’s coveted algorithm that tailors content for users as well as content moderation, according to the order.

The White House did not immediately release a list of U.S. investors, but Trump said Oracle and its CEO, Larry Ellison, w

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