Trump Admin To Get $10 Billion Fee For Brokering TikTok Deal

President Donald Trump's administration is set to receive a roughly $10 billion fee from investors in the recently completed deal to take control of TikTok's U.S. business, the Wall Street ‌Journal reported on Friday, citing people familiar with the matter. 

TikTok's Chinese owner, ByteDance, in January finalized a deal to establish a majority American-owned joint venture that will secure U.S. data, to avoid a U.S. ban on the short video app used by over



200 million Americans.

TikTok USDS Joint Venture LLC will ⁠secure U.S. user data, apps and algorithms through data privacy and cybersecurity measures. It disclosed few details about the divestiture. 

Vice President JD Vance had in September said that the new U.S. company will be valued at around $14 billion. The payment is part of the agreement through which investors friendly with the administration gained control of TikTok's U.S.