Trump administration is allegedly collecting $10 billion on the TikTok deal

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The Trump administration is reportedly collecting approximately $10 billion from the TikTok deal, with sources indicating $2.5 billion already paid to the US Treasury upon deal closure on January 22nd. New investors including Oracle and Silver Lake are funding the fee in installments. This is part of a broader pattern of the administration taking unprecedented stakes in private business transactions.

In September, Donald Trump claimed that "the United States is getting a tremendous fee" for brokering the TikTok deal. Now sources tell the Wall Street Journal and the New York Times that fee is expected to be in the range of $10 billion. The money is supposedly being paid by new investors, including Oracle and Silver Lake. Reports are that $2.5 billion was already paid to the Treasury when the deal closed on January 22nd. The rest will be paid out in installments. This is the latest example of the Trump administration inserting itself into private business in unprecedented ways, including taking on a 10-percent stake in Intel last August, … Read the full story at The Verge.