Vice President JD Vance said Thursday that the American company that takes over TikTok will get a "good deal" valued at $14 billion.
He also said that the U.S. investors will "actually control the algorithm" of the popular video-sharing app, according to NBC News.
"We actually think this is a good deal for investors, but ultimately the investors are going to make the determination about what they would invest in and what they think is proper value," Vance said.
"We don't want this used as a propaganda tool by any foreign government," he said.
While it was not entirely clear who would be buying TikTok, NBC reported that Oracle will be playing "a big part."
On Thursday, it was reported that Oracle, private equity firm Silver Lake, and MGX are slated to be the main investors in TikTok U.S., with a combined ownership of 45%.
President Donald Trump also signed an executive order on Thursday declaring that his plan to divest the app's U.S. operations from its Chinese owner, ByteDance, will meet the requirements of a 2024 law that mandated the sale.
Enforcement of the law has reportedly been delayed until Dec. 16 to allow time to separate TikTok's U.S. assets from the global platform, find American investors, and gain approval from the Chinese government.
Nicole Weatherholtz ✉
Nicole Weatherholtz, a Newsmax general assignment reporter covers news, politics, and culture. She is a National Newspaper Association award-winning journalist.
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