New Delhi, Sept. 26 -- President Donald Trump on Thursday signed an executive order outlining a proposed sale of TikTok's US operations. The deal would reduce Chinese ownership to 20 percent and place control of the platform in the hands of investors allied with Trump.

At a signing ceremony at the White House, Trump described the future management of the US version of TikTok, stating it would be overseen by "highly sophisticated" investors including Larry Ellison, founder of cloud computing giant Oracle, technology investor Michael Dell, and media magnate Rupert Murdoch.

Vice President JD Vance, who led the team tasked with finding a solution for TikTok, confirmed that the newly formed U.S.-based entity will be valued at approximately $...