A federal law required TikTok to either be shut down in the US or sold to domestic owners at the beginning of President Donald Trump’s second term. But the president used a series of executive actions to extend that deadline and the White House helped broker the sale to a group led by Oracle Corp. and Silver Lake Management LLC. Most Read from BloombergThe White House did not immediately respond to a request for comment, but Trump had previously alluded to such a fee. The new entity — known as TikTok USDS Joint Venture LLC — will be responsible for moderating content on TikTok and protecting the data of US users. Adam Presser, who was TikTok’s head of operations, trust and safety, will helm the US venture as its CEO.

Source: Wall Street Journal March 14, 2026 14:43 UTC