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Trump Wants $5 Billion From TikTok Deal for History Project

U.S. President Donald Trump

U.S. President Donald Trump

Photographer: Chris Kleponis/Polaris/Bloomberg

Updated on

President Donald Trump said Saturday he wants $5 billion from companies creating a new U.S.-based TikTok venture directed toward teaching American children “the real history of our country.”

Trump said Saturday that he had approved a transaction between Oracle Corp., Walmart Inc. and ByteDance Ltd. to create a new company called TikTok Global to run the U.S. video-sharing app. As part of the arrangement, Trump told reporters at the White House the companies agreed to contribute $5 billion to an education foundation.