Tiktok's trouble in America is over, President Trump put this condition on the deal with Oracle

Washington, Ta. 20 September 2020, Sunday

In the United States, Ben's risk is at stake. US President Donald Trump has approved a tic-tac-toe deal with Oracle. Trump said the rights to Tiktok will be made by Tiktok Global, headquartered in the United States and possibly in Texas.

Deal done on Tiktok

Oracle Crop will buy a 12.5% ​​stake in new company TikTalk Global and keep the data of all its US users in its cloud. Oracle is confident that it will protect the data of all its American citizens and secure its computer system.

Apart from them, retail giant Walmart will also take a 7.5% stake in Tiktok Global. Walmart CEO Doug Macmillan will serve on Tiktok's global board of directors, Walmart said in a statement. Four out of five board seats in Tiktok Global will be held by Americans.

After the deal was approved, Tiktok said the tiktok would address US administration security concerns proposed by Oracle and Walmart, and that the United States would consider Tiktok's future.

Tiktok Global will dominate in America

According to sources, TikTalk owner ByteDance has a 40 per cent stake in US investors. Now the White House will look at how much the American people are participating in Tiktok Global.

Oracle, Walmart and ByteDance will have a direct share of 53% of US investors in TikTalk Global. ByteDance has not yet released a statement on the deal. Walmart and Oracle have also not yet disclosed the ownership structure of TikTalk Global.

Tiktok Global will provide 5 billion

President Trump has already said that Oracle and Walmart, the companies participating in the TicTac deal, will have to pay some amount. TikTalk Global has approved a રોકાણ 5 billion investment for the United States, one of which will be a new education fund.

The funds were demanded by President Trump himself during a rally. ByteDance has also promised to create 25,000 new jobs at Tiktok in the U.S., up from 1,000 previously.