ByteDance to get 50% of TikTok US profit under Trump deal: Report
TikTok's Chinese parent ByteDance is expected to receive over 50% of profits from the app's US operations even after selling a majority stake, Bloomberg reported. US President Donald Trump on Thursday signed a deal approving the sale of TikTok's US unit to American investors. ByteDance will earn a licensing fee and profit share proportional to its remaining equity stake.