Todd Spangler NY Digital Editor Will TikTok find a way to remain legal in the U.S. under a new ownership structure? A range of possible new owners for TikTok in the U.S. — including MrBeast, Elon Musk and Oracle founder Larry Ellison — have emerged as a federal law banning TikTok in the country went into effect this Sunday, Jan.
19, after Chinese parent company ByteDance failed to divest its stake in the popular video app. President Donald Trump, on his first day back in the White House, ordered his attorney general to not enforce the law for 75 days as his administration seeks a resolution. (Legal experts say Trump’s executive order may not prevent TikTok tech partners from being exposed to some $850 billion in fines if they violate the law.) “SAVE TIKTOK!” Trump posted on Truth Social on Jan.
19. Trump has proposed ByteDance and TikTok’s owners give the U.S. government a 50% ownership position in a TikTok joint venture.
If the U.S. does not approve TikTok, “there’s no value,” Trump told reporters Monday at the White House. “So if we create that value, why aren’t we entitled to like half?” Whether ByteDance or the Chinese government would agree to such terms for a TikTok sale is unknown.
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