Trump administration raises $10 billion from TikTok deal

In September, Donald Trump claimed that “the United States is getting a chance Huge fees“To broker the TikTok deal. Now sources tell… Wall Street Journal and New York Times These fees are expected to be in the range of $10 billion. The money is supposed to be paid by new investors, including Oracle and Silver Lake. Reports indicate that $2.5 billion had already been paid to the Treasury when the deal closed on January 22. The rest will be paid in installments.

This is the latest example of the Trump administration inserting itself into private business in unprecedented ways, including taking over 10% stake in Intel “last August”Golden share“at US Steel, and a 20 percent cut in chip sales from Nvidia to China. In this case, the deal also includes one of Trump’s biggest supporters and fundraisers, larry Ellison, Co-Founder and CTO of Oracle.

If reports are accurate, the fee would represent more than 70% of the value of the deal, which saw a group of investors take a majority stake in TikTok for $14 billion.