'Happy to have helped save TikTok', says Trump, praises China's Xi for helping him close deal
&imwidth=600&imheight=450&format=webp&quality=medium "'Happy to have helped save TikTok', says Trump, praises China's Xi for helping him close deal")
US President Donald Trump
After TikTok closed the deal, US President Donald Trump took to Truth Social to say how he has lived up to his promise and helped the company survive in the US.
The shadow surrounding TikTok's survival in the US has finally faded as the company has announced a new deal according to which a majority of American-owned joint venture like like the software giant Oracle, private equity firm Silver Lake, and Abu Dhabi-based investment firm MGX.com will operate TikTok's US business thus ending its Chinese ownership in the country, which has been the main bone of contention for Trump.
However, TikTok's Chinese parent company ByteDance will retain a 19.9% stake.
This comes just one day before the deadline set by US President Donald Trump.
Soon after the announcement was made, Trump took to Truth Social to say how he has lived up to his promise and "helped in saving TikTok" in the US.
"I am so happy to have helped in saving TikTok! It will now be owned by a group of Great American Patriots and Investors, the Biggest in the World, and will be an important Voice. Along with other factors, it was responsible for my doing so well with the Youth Vote in the 2024 Presidential Election. I only hope that long into the future I will be remembered by those who use and love TikTok," wrote Trump
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"Thank you to Vice President JD Vance, and all of the others within my Administration, who helped bring this Deal to a very dramatic, final, and beautiful conclusion," he wrote further.
He also thanks the Chinese President Xi for his support in bringing the deal to its conclusion.
Trump thanks Xi
I would also like to thank President Xi, of China, for working with us and, ultimately, approving the Deal. He could have gone the other way, but didn’t, and is appreciated for his decision.
Critics are of the view that the deal doesn't fully meet US regulations and that TikTok may not have the same feel as a global app under this arrangement.
