> Trump Set to Receive $10 Billion Fee for Brokering TikTok Deal

The Trump 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, delivering it a windfall for keeping the popular social-media app alive in America.

The payment is part of the agreement through which investors friendly with the administration gained control of TikTok’s U.S. operations from Chinese parent ByteDance, people familiar with the matter said. It comes in addition to the investments made to create a new entity to run the app in the U.S.

The investors include cloud-computing company Oracle ORCL -2.54%decrease; red down pointing triangle, private-equity firm Silver Lake and Abu Dhabi investor MGX. They and other backers paid the Treasury Department about $2.5 billion when the deal closed in January and are set to make several additional payments until hitting the $10 billion total, the people said.

When announcing the framework for the TikTok deal in September, Trump said, “It hasn’t been fully negotiated, but we’ll get something,” adding that the size of the deal and money and effort put in by the government justify compensation. He had previously said, “The United States is getting a tremendous fee-plus—I call it a fee-plus—just for making the deal and I don’t want to throw that out the window.”

https://www.wsj.com/tech/tiktok-deal-fe … malertNEWS