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Trump administration to be paid $10bn for brokering TikTok deal
Exceptionally rare ‘fee’ to be paid by investors who took control of US operations from Chinese parent company
Donald Trump’s administration is reportedly poised to be paid $10bn by investors as part of a deal to create a US-controlled version of TikTok.
The $10bn, considered by the US government as a sort of transaction fee, will be paid by the administration-friendly investors who took control of TikTok’s US operations from its Chinese parent company, ByteDance, according to reporting that first appeared in the Wall Street Journal.