TikTok’s value rises after Trump was re-elected to return to the White House

On By Littum

ByteDance, the parent company of TikTokrecently estimated its value at about 300 billion dollars, despite American pressure from Congress bans its use nationwide. In 2023, Congress passed a bill that threatened to ban TikTok on campuses across the United States

The value of the company has gradually increased over the past year. In October 2023, ByteDance valued itself at approximately $225 billion, and in December 2023, the value increased to $268 billion, according to an email sent to investors.

ByteDance investors see Donald Trump’s expected return to the White House as a relief for TikTok’s operations in the U.S. Although Trump supported a TikTok ban during his term in office, he changed his stance during the last campaign after meeting billionaire Jeff Yass, a major ByteDance investor and major donor to the Republican Party.

Supporters of the bill argue that it aims to prevent the Chinese government from spying on Americans or influencing the content that TikTok users view. TikTok, for its part, has stated that it will not comply with such interference from the Chinese government. ByteDance recently informed investors of its intention to buy back shares at a price of approximately $180 per share. This move is intended to provide liquidity for investors and longtime employees.

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