For context, SNAP is valued at $14Bn.

This is a straight up giveaway to friends.

Even dictators in other countries don't make it so obvious because they're worried their populations would revolt, which says a lot about the American voter today.

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mandeepj 7 hours ago | parent | next [-]

> This is a straight up giveaway to friends.

None of Tiktok's executives were present, and China has not confirmed the sale. So, I don't think clown's EO means anything. He's living in his own la la land :-)

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7 hours ago | parent | next [-]

[deleted]

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throwawaymaths 7 hours ago | parent | prev [-]

wait why does china have to confirm the sale? i thought tiktok was singaporean!

	▲	mandeepj 7 hours ago \| parent \| next [-]
		> i thought tiktok was singaporean! Tiktok's CEO is a singaporean! Maybe you are mixing it with that. Tiktoks' parent company ByteDance is headquartered in China. https://en.wikipedia.org/wiki/ByteDance
	▲	c0balt 7 hours ago \| parent \| prev \| next [-]
		Shou Zi Chew, the CEO of TikTok since 2021, is Singaporean. TikTok, the company, is owned by ByteDance.
	▲	sjsdaiuasgdia 7 hours ago \| parent \| prev [-]
		The CEO of TikTok is from Singapore. Bytedance is a Chinese company.

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maxglute 7 hours ago | parent | prev | next [-]

IIRC previous talk for TikTok US valuations / buyout was ~40B. But Tiktok was at ~20% Bytedance / PRC ownership before and after. US ownership to boost from 60-80%. So not really sure who this is boning more.

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giarc 7 hours ago | parent | prev [-]

It's all a grift. The cynic in me says that if you looked close enough, you'd find some large deposits into Trump coin or World Liberty Finacial shortly before this announcement.