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Tech • 1d ago

Trump administration is allegedly collecting $10 billion on the TikTok deal

Trump administration is allegedly collecting $10 billion on the TikTok deal
**TikTok: What's Behind the $10 Billion Fee Collected by the Trump Administration?** In a recent development that has sparked interest in the tech world, it's been reported that the Trump administration is allegedly set to collect a whopping $10 billion as part of the TikTok deal. This comes just a few months after former US President Donald Trump claimed that the US would be receiving a "tremendous fee" for brokering the deal. According to sources who spoke to the Wall Street Journal and the New York Times, the $10 billion fee is expected to be paid by new investors, including Oracle and Silver Lake. The money is reportedly being paid in installments, with $2.5 billion already handed over to the US Treasury when the deal was finalized on January 22nd. The deal, which saw a group of investors take a majority stake in TikTok for $14 billion, has raised eyebrows due to the Trump administration's unprecedented involvement in private business. This includes taking a 10-percent stake in Intel, a "golden share" in US Steel, and a 20-percent cut in chip sales from Nvidia to China. One of the key players in the deal is Larry Ellison, co-founder and CTO of Oracle, who has been a longtime supporter of Trump. It's worth noting that Nigeria's own regulatory agencies have also been involved in scrutinizing foreign investments, particularly those related to social media platforms. The reported $10 billion fee represents over 70 percent of the deal's value. While the deal is seen as a significant one, it's also sparked questions about the role of government in private business and the motivations behind such deals. As the tech world continues to evolve, it's clear that the lines between government and business will only continue to blur.
Source: Original Article • AI-enhanced version for clarity & Nigerian context

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