Current President Donald Trump has signed an executive order entrenching some of the terms of the deal for TikTok, which aims to separate its operations in the United States from Chinese parent company ByteDance and place it under the control of a group of American investors.

Under the new arrangements, U.S. investors will receive the largest stake in the new entity, while ByteDance will retain only 19.9 percent, while the app's recommendation algorithm will remain. The new U.S. company (which includes TikTok's operations in the U.S. only) is estimated to be worth about $14 billion, according to U.S. Vice President J.D. Vance.

CNBC reported that Oracle, Silver Lake and UAE investment firm MGX will be among the core group that owns 45% of the new entity, along with prominent investors such as Michael Dell and Rupert Murdoch.