The Trump administration was successful in getting the TikTok US deal done, but that may have come with a huge financial incentive.
According to The Wall Street Journal, the Trump administration will receive $10 billion for its work on the deal. The group of investors, which include Oracle and several investment firms, already paid a $2.5 billion fee when the deal closed in January. The rest of the money will reportedly be paid over time.
The deal was the end of a lengthy saga between TikTok parent company ByteDance and the U.S. government.
TikTok was on the verge of being banned in the U.S. According to the Biden and Trump administrations, this was due to possible ties with the Chinese government.
The deal prevents TikTok from being banned in the U.S. due to most of the new owners originating in the U.S. Called TikTok USDS Joint Venture, it stores its data in the U.S. instead of overseas.
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