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One watchdog leader noted that the president's deal involves "one of his major crypto business partners that generates tens of millions of dollars a year for the Trump family."
President Donald Trump on Thursday issued an executive order claiming to "save" TikTok from a federal law that would ban the video-sharing platform in the United States, but critics are condemning the Republican's deal as yet another case of him "picking winners and losers in government policy based on who is enriching his family."
Trump initially kicked off efforts to force TikTok's Chinese parent company ByteDance to divest with an August 2020 executive order, but Democratic former President Joe Biden signed the bipartisan legislation that would ban the platform based on national security concerns last year.
Since returning to office, Trump has pledged to "save" TikTok, delaying enforcement of the law and negotiating a deal under which, according to a White House fact sheet, the US application "will be majority-owned by US investors, operated in the US by a board of directors with national security and cybersecurity credentials, and subject to strict rules to protect Americans' data and our national security."
The fact sheet also confirms that "ByteDance will hold less than 20% of the stock as required by law," and "Oracle—one of the nation's leading technology companies—will act as TikTok’s security provider and independently monitor and assure the safety of all operations in the US."
Critics have expressed alarm about both the anticipated quality of the US platform and the reported investors.
OpenSecrets noted Thursday that Oracle co-founder Larry Ellison is "a Trump supporter and major bankroller of Republican candidates and causes," and the company "has spent at least $11 million on federal-level government lobbying during each of the past four full years," a trend that is set to continue this year.
Citing unnamed sources, CNBC reported Thursday that, in addition to Oracle, the main investors will be Silver Lake and Abu Dhabi's MGX. Previous reporting has also suggested involvement from venture capitalists Marc Andreessen and Ben Horowitz.
Trump on the TikTok deal: "Rupert Murdoch is involved."
[image or embed]
— Aaron Rupar (@atrupar.com) September 25, 2025 at 4:35 PM
While some opponents of the Trump plan have highlighted his ties to Ellison, Andreessen, and Horowitz, Tony Carrk, executive director of the watchdog group Accountable.US, focused on his relationship with MGX in a Thursday statement.
"President Trump's use of his office to enrich himself and his friends seems to know no bounds," Carrk said. "His grand scheme to 'save' TikTok just so happens to involve the enrichment of one of his major crypto business partners that generates tens of millions of dollars a year for the Trump family."
"That's no coincidence for the only US president in history that has seen his bottom line grow by billions from the White House," he asserted. "Meanwhile, working Americans see their costs continue to increase, from groceries to healthcare to housing. It's clear the president's priority is himself, not the rest of us."
Trump's Thursday order affirms that the deal complies with last year's law and allows another 120 days to finalize the details.
The Associated Press reported that "Trump said Thursday that Chinese leader Xi Jinping has agreed to move forward with it. However, the Chinese embassy in Washington didn't immediately respond to an AP inquiry seeking confirmation that China has formally signed off on the proposed framework deal."
US political leaders have long claimed that under ByteDance's control, users may encounter content favored by the Chinese government. The Electronic Frontier Foundation said earlier this week that "if the concern had been that TikTok could be a conduit for Chinese government propaganda—a concern the Supreme Court declined to even consider—people can now be concerned that TikTok could be a conduit for US government propaganda."
Joining Trump in the Oval Office for the executive order signing on Thursday, Vice President JD Vance seemed to confirm that's the plan, telling reporters that "the US company will have control over how the algorithm pushes content to users, and that was a very important part of it."
Responding to Vance's remarks, one social media user quipped, "Ahh, so it was just an issue of *whose* propaganda."
"The Democratic Party setting up Trump to play the part of the zoomer savior after Trump got this all rolling in the first place is... the sort of self-inflicted wound that only the Democratic Party could accomplish."
After starting Sunday with a Truth Social post declaring "SAVE TIKTOK!" U.S. President-elect Donald Trump announced plans for an executive order delaying a nationwide ban on the global video-sharing platform—which some political observers framed as a "win" for the Republican that was made possible by Democrats in Washington, D.C.
Trump actually kicked off efforts to force TikTok's Chinese parent company ByteDance to divest with an August 2020 executive order, citing national security concerns. Three months later, he lost an election to Democratic President Joe Biden, who ultimately reversed the order. However, Biden then signed the legislation currently impeding the platform's availability in the United States.
"Congratulations, Democrats," said Nina Turner, a former Democratic congressional candidate from Ohio, as the platform began informing U.S. users that it was no longer available late Saturday. "This could've been avoided had you listened to progressives last year when this bill was being forced through Congress."
U.S. Reps. Mike Gallagher (R-Wis.) and Rep. Raja Krishnamoorthi (D-Ill.) last March
led a bipartisan coalition that introduced a bill targeting TikTok's parent company—the Protecting Americans from Foreign Adversary Controlled Applications Act—in the House of Representatives, where it swiftly approved in a 352-65 vote.
A version of the bill—which forces ByteDance to sell TikTok to a non-Chinese company or face a U.S. ban—ultimately passed both chambers with bipartisan support as a rider to a $95 billion military assistance package for Ukraine, Taiwan, and Israel, as it waged a genocidal war against Palestinians in Gaza. Biden signed it in April.
The resulting legal battle reached the U.S. Supreme Court, which on Friday unanimously upheld the law, "giving the executive branch unprecedented power to silence speech it doesn't like, increasing the danger that sweeping invocations of 'national security' will trump our constitutional rights," in the words of ACLU National Security Project deputy director Patrick Toomey.
The court's decision meant TikTok would "go dark" on Sunday without action from Biden, who declined to give ByteDance a 90-day extension to sell or accept the ban, despite pressure from First Amendment advocates like the ACLU, the platform's 170 million American users—including content creators and small businesses facing financial impacts—and some lawmakers.
In a Friday statement, White House Press Secretary Karine Jean-Pierre
pointed to Trump's Monday inauguration, saying that "given the sheer fact of timing, this administration recognizes that actions to implement the law simply must fall to the next administration."
Late Saturday, TikTok users in the United States began seeing a pop-up message that the platform was unavailable, stating: "A law banning TikTok has been enacted in the U.S. Unfortunately, that means you can't use TikTok for now. We are fortunate that President Trump has indicated that he will work with us on a solution to reinstate TikTok once he takes office. Please stay tuned!"
In response to former Obama administration staffer and podcaster Tommy Vietor calling TikTok's message an advertisement from the Chinese Communist Party, leftist political commentator Hasan Piker highlighted Trump's opportunity to restore access to the platform, saying that "the Democrats handed him the easiest w of all time if he's smart enough to seize it."
Others were also critical of the Democratic Party—which is wrapped up in debates over how to move forward from devastating electoral losses in November—with independent journalist Ken Klippenstein saying that "this reminds me of when Trump put his name on the stimulus checks but Biden didn't. Historic own goal by the Democrats here."
Jacobin podcast host Daniel Denvir similarly said on X—the platform owned by Trump ally Elon Musk, the world's richest person—that "the Democratic Party setting up Trump to play the part of the zoomer savior after Trump got this all rolling in the first place is... the sort of self-inflicted wound that only the Democratic Party could accomplish."
Lynese Wallace—who was the chief of staff for former Rep. Cori Bush (D-Mo.), a progressive who opposed the law—said that "the TikTok ban was always bad policy and bad politics. Let's not forget it was folded into a $95 billion foreign aid package passed in the last Congress—and has since paved way for Trump to now 'save' it, despite his own support for a ban during his first term. So dumb."
Seizing the opportunity, Trump said Sunday on his Truth social media platform that "I'm asking companies not to let TikTok stay dark! I will issue an executive order on Monday to extend the period of time before the law's prohibitions take effect, so that we can make a deal to protect our national security. The order will also confirm that there will be no liability for any company that helped keep TikTok from going dark before my order."
Although Trump can't take action before he is sworn in, he continued:
Americans deserve to see our exciting Inauguration on Monday, as well as other events and conversations.
I would like the United States to have a 50% ownership position in a joint venture.
By doing this, we save TikTok, keep it in good hands and allow it to [stay] up. Without U.S. approval, there is no TikTok. With our approval, it is worth hundreds of billions of dollars—maybe trillions.
Therefore, my initial thought is a joint venture between the current owners and/or new owners whereby the U.S. gets a 50% ownership in a joint venture set up between the U.S. and whichever purchase we so choose.
Responding with a statement on X, TikTok said that "in agreement with our service providers, TikTok is in the process of restoring service. We thank President Trump for providing the necessary clarity and assurance to our service providers that they will face no penalties [for] providing TikTok to over 170 million Americans and allowing over 7 million small businesses to thrive. It's a strong stand for the First Amendment and against arbitrary censorship. We will work with President Trump on a long-term solution that keeps TikTok in the United States."
Even before Trump's post, Musk—who is expected to co-lead a presidential advisory commission—said on X that "I have been against a TikTok ban for a long time, because it goes against freedom of speech. That said, the current situation where TikTok is allowed to operate in America, but X is not allowed to operate in China is unbalanced. Something needs to change."
ByteDance's Chinese version of TikTok, called Douyin, was introduced in China in September 2016. The New York Times reported last April that "TikTok has more users on its platform, but Douyin is ByteDance's cash cow. Roughly 80% of ByteDance's $54 billion revenue in the first half of [2023] came from China."
Critics of bipartisan efforts to ban TikTok in the United States have blasted lawmakers for their priorities throughout the process.
"America: Where it's OK to ban TikTok, books, and abortions, but not OK to ban assault weapons, bombs for genocides, or student debt," said Warren Gunnels, Democratic staff director for the Senate Health, Education, Labor, and Pensions Committee under the chairmanship of Sen. Bernie Sanders (I-Vt.), who voted against the TikTok legislation.
Just hours ahead of a cease-fire taking effect in Gaza, Turner, who co-chaired Sanders' 2020 presidential campaign, also emphasized that "they really banned TikTok before they banned sending weapons to Israel during a genocide."
"If Congress actually gave a damn about our data privacy," she added, "they would've passed a sweeping data privacy bill, not a bill targeting TikTok."
In a Sunday email to supporters, Rep. Alexandria Ocasio-Cortez (D-N.Y.)—who also voted against the law—agreed, stressing that "the answer is not just playing endless whack-a-mole with apps."
"We should have real privacy legislation in the United States," she said. "We should help people have greater agency over their personal information so that they're not being spied on all the time, whether it's a domestic company or a foreign company."
"To which, of course, Big Tech and their lobbies are going to fight against," she warned. "So they just target an
app instead of targeting the problem."
"Banning TikTok in this way sets a dangerous precedent that could pave the way to future government interventions against online speech," said one advocate.
To the chagrin of First Amendment defenders and content creators, the Supreme Court on Friday appeared poised to uphold a law passed by Congress last year that would shut down the widely popular social media app TikTok in the U.S. unless its owner, the Chinese company ByteDance, sells it.
The de facto ban on TikTok was tucked into a $95 billion legislative package for aid to Ukraine and Israel that was passed by the Senate in April 2024. A standalone version of the legislation cleared the House with bipartisan support a month earlier. It is set to go into effect on January 19, barring a sale by ByteDance or intervention by the Supreme Court.
The law was justified on national security grounds, which were fueled by fears that national security laws in China could compel ByteDance to give the Chinese government access to data on TikTok users.
Nina Turner, a senior fellow at the Institute on Race, Power, and Political Economy, wrote Thursday: "The U.S. government stood up to TikTok before they stood up to [Israeli Prime Minister Benjamin] Netanyahu, or the health insurance lobby, orBig Pharma, or Big Oil—no. TikTok. Completely out of touch with the American people. Both parties."
During oral arguments, "justices across the ideological spectrum asked tough questions of both sides, [but] the overall tone and thrust appeared to suggest greater skepticism toward the arguments by lawyers for TikTok and its users that the First Amendment barred Congress from enacting the law," according to Friday reporting from The New York Times.
However, the Times also noted that "several justices were skeptical about a major part of the government's justification for the law: the risk that China might 'covertly' make TikTok manipulate the content shown to Americans or collect user data to achieve its geopolitical aims."
Ahead of the U.S. Supreme Court's hearing on TikTok's appeal of the ban, three bipartisan lawmakers were among the First Amendment advocates who filed amicus briefs in support of the app in late December. Rep. Ro Khanna (D-Calif.) and Sens. Ed Markey (D-Mass.) and Rand Paul (R-Ky.) asked the court to grant TikTok an emergency injunction to block the Protecting Americans from Foreign Adversary Controlled Applications Act.
The ACLU, the Center for Democracy & Technology (CDT), and the Freedom of the Press Foundation were among several civil liberties groups that also filed an amicus brief in late December, arguing that the government has not presented sufficient evidence that the app, which is used by 170 million Americans, causes "ongoing or imminent harm."
In a statement released Friday, the Free Press policy counsel Yanni Chen said that "as with repressive laws from oppressive regimes around the world, the real toll of the ban will be on everyday people... TikTok users, many of whom use the platform to organize communities and express views that legacy media often ignore."
"Banning TikTok in this way sets a dangerous precedent that could pave the way to future government interventions against online speech," she added.