ByteDance, in a statement, claims that it first heard about Trump’s education fund from press reports. Walmart and Oracle did say the new TikTok expects to pay $5 billion in taxes to the US Treasury. ByteDance says that’s an estimate of normal income and operating taxes.
China's ByteDance Ltd is seeking a valuation of $60 billion for #TikTok as Oracle and Walmart take stakes, respectively 12.5% and 7.5%, in TikTok's business. Two companies would pay a combined $12 billion for their stakes if they agree to $60 billion asking price, Reuters reports
ByteDance avoids shutdown of TikTok in the U.S. after Trump’s support of a deal involving Oracle and Walmart