TikTok unaware of $5bn US ‘education fund’ request

Trump/TikTok graphic
Trump/TikTok graphic

Bytedance, the owner of TikTok, says it has not heard about a $5bn (£4bn) contribution to a new education fund requested by US president Donald Trump, at a rally in North Carolina.

The firm released a statement on its Chinese language website.

It said it wanted to offer an “explanation of some false rumours” about its deal with Oracle and Walmart.

It also said there was no plan to transfer ownership of the valuable algorithms which power TikTok.

Donald Trump had threatened to ban the app in the US unless a sale was agreed with a US firm by the middle of September.

A deal was eventually struck to create a new division, TikTok Global, in partnership with Oracle and Walmart, based in the US.

Mr Trump said at the weekend that he had asked the companies involved to put up the money “so we can educate people

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