With his allies in the tech world ready to take over TikTok, the corrupt Malignant Fascist's regime is collecting a $10 billion "fee" for brokering the deal with China. From Newsweek:
"A federal law required TikTok to either shut down in the United States or be sold to domestic owners at the start of President Donald Trump’s second term in 2025.
However, the president issued a series of executive actions extending the deadline, while the White House helped broker a sale to a group led by cloud-computing tech giant Oracle Corp. and private-equity firm Silver Lake Management LLC. [snip]
The new entity, called TikTok USDS Joint Venture LLC, will oversee content moderation on the platform and safeguard the data of U.S. users.
The fee is to be paid by investors involved in the TikTok transaction, the Wall Street Journal reported, citing people familiar with the matter. [snip]
The payment is part of a broader agreement that transferred control of TikTok’s U.S. operations from ByteDance to a group of investors seen as friendly with the administration, according to people familiar with the matter. It comes on top of investments used to establish the new company that now operates the app in the U.S.
Those investors include Oracle, Silver Lake and Abu Dhabi–based investor MGX. The group and its backers paid about $2.5 billion to the Treasury Department when the deal closed in January and are expected to make additional payments until the total reaches $10 billion, the Wall Street Journal reports." (our emphasis)
Of course, oligarch billionaire Larry Ellison of Oracle fame is going to benefit from this payoff to the MF, much like the MF's regime rigged his son David's Skydance purchase of Paramount, and subsequently the merger with Warner Bros. Discovery which was facilitated by regulatory favoritism. CBS, CNN, TikTok and other outlets are now under the control of a right-wing Trumper, who has suggested he'll fire those who are critics of the MF. Let's hope this latest venture goes south on them.
(photo: The MF and his ally Ellison / Andrew Harnik, Getty)
You hope it goes south on them? What about the shareholders? Who will think of them?
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