- ByteDance values itself at $300 billion
- TikTok faces U.S. sale mandate
- Trump promises platform protection
Money Moves
ByteDance has placed its self-valuation at $300 billion during a recent share buyback program, The Wall Street Journal reports. This marks a significant rebound from last year’s $223 billion figure – a 26% drop from a similar buyback offer in September 2022.
Political Plot Twist
The TikTok landscape stands at a crossroads under current U.S. regulations. President Biden’s April legislation mandates ByteDance to sell TikTok or face a U.S. ban, giving the company a nine-month deadline plus a potential three-month extension.
Trump Card
The social media giant’s future could shift dramatically. Former President Trump, previously advocating for a TikTok ban, now pledges to “SAVE TIK TOK IN AMERICA.”
This stance gains additional weight through Republican megadonor Jeff Yass’s substantial ByteDance investment.
