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Trump admin set to receive $10 billion fee from investors for TikTok deal: Report

News Snapshot:

The TikTok US joint venture deal is expected to generate nearly $10 billion in payments for the administration of US President Donald Trump, poured in from involved investors, according to a report by the The Wall Street Journal citing sources.WSJ said that this payment forms part of an arrangement through which investors considered friendly to the administration took control of TikTok’s US operations from ByteDance. The fee is separate from investments already made to establish the new entity responsible for running the app in the United States.Officials within the administration have defended the fee, saying it reflects Trump’s role in…

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