Vice President JD Vance visits "Fox News Sunday" on January 11, 2025.Paul Morigi | Getty Images Entertainment | Getty ImagesVice President JD Vance on Sunday said he is optimistic the future of TikTok in the U.S."I feel very confident that we have successfully separated this company from TikTok global and actually made it so that we can control people's data security," he said on "Fox News Sunday." "We can ensure that the algorithm is not being used as a paganda tool by a foreign government."The social media platform has long faced concerns its data collection practices and parent company ByteDance's relationship with the Chinese government.After months of uncertainty ing former President Joe Biden's signing of a national security law effectively banning TikTok from U.S.
app stores, President Donald Trump signed an executive order on Thursday apving a posal that would allow TikTok to continue operating in the country."The way that we've set up this deal from a national security perspective is that it's the American investors and the American people who will make the determination what's actually happening with TikTok," said Vance, who has said the agreement values TikTok's at $14 billion.Under the terms of Trump's executive order, a new joint-venture company would oversee TikTok's U.S.
, with ByteDance retaining less than a 20% stake.
Among the company's investors would be giant Oracle, private-equity firm Silver Lake and the Abu Dhabi-based MGX investment fund.Read more CNBC coverageNew York City mayor candidate Curtis Sliwa says he was offered money to quit raceTrump's tennis invite from Rolex echoes Apple, Nvidia playbook for currying favor, Warren says2 dead in Dallas ICE shooting, including suspect; FBI eyes ideological motiveTrump UN escalator snafu: White House wants investigation of sudden stopTrump cancels meeting with top Democrats as government shutdown loomsEurope's work-life balance a key talent draw as Trump revamps H-1B visaTrump-Xi meeting ly to happen next year, says U.S.
ambassador to ChinaTrump to meet top Dems as their health care demands fuel government shutdown riskSupreme Court lets Trump fire FTC's Slaughter for nowJimmy Kimmel suspension, Trump book, Epstein note eyed in ABC affiliate shootingByteDance investors, including General Atlantic, Susquehanna, and Sequoia, are expected to contribute equity in the new TikTok U.S.
entity. According to the deal, the federal government would not take an equity stake — or a so-called golden — in TikTok's U.S.
operations."At the end of the day, I believe that north of 80% of the company will be owned by the American investors and their partners," said Vance.
"This is not something where the Chinese or any Chinese entity has a large stake of the table."On the day he signed the executive order, Trump said Chinese President Xi Jinping gave the deal the go ahead, while Vance said the Chinese government had some resistance to the deal.So far, ByteDance has not acknowledged Trump's executive order, nor has it confirmed that the transaction is actually taking place.
There has also been no indication that the Chinese government has made any changes to laws that would be necessary for a deal to occur.