The Abu Dhabi royal family is set to take a stake in TikTok’s US business after former President Donald Trump signed an executive order approving a deal that values the social media platform at $14 billion.

Under the agreement, MGX, an investment fund chaired by Sheikh Tahnoon bin Zayed Al Nahyan, will acquire a 15% stake in TikTok US and secure a seat on its board once the company is spun out from its Chinese parent, ByteDance.

The deal also brings in Larry Ellison’s Oracle, private equity firm Silver Lake, and MGX, which together will control about 45% of TikTok US. Additional American investors include Michael Dell and Rupert Murdoch’s Fox, with overall US ownership expected to surpass 65%.

“[TikTok US] will be majority-owned and controlled by United States persons and will no longer be controlled by any foreign adversary,” Trump said in announcing the agreement. “We have American investors taking it over—big names, highly sophisticated. This is going to be American-operated all the way.”

ByteDance will retain a 19.9% minority stake, though the arrangement still requires final approval from Beijing. Trump noted he had spoken with Chinese President Xi Jinping, who “gave us the go-ahead.”

US Vice President JD Vance confirmed the $14 billion valuation and said the deal addresses long-standing security concerns. “There was resistance from the Chinese side,” Vance admitted. “But the fundamental goal was to keep TikTok operating while ensuring Americans’ data privacy is protected by law.”

He added: “This agreement means Americans can continue using TikTok, but with greater confidence. Their data will be secure, and it won’t be turned into a propaganda weapon against our citizens.”

The executive order provides a 120-day window to finalize the terms of the transaction.