Trump Said TikTok Deal Would Create $5B Patriotic Education Fund. ByteDance Says It Has No Clue

President Donald Trump suggested Saturday that the TikTok deal he gave his “blessing” to involved a $5 billion education fund for the United States, but ByteDance claims it didn’t hear of this until media reports emerged.

What Happened: “They are going to pay $5bn into a fund for education so we can educate people as to the real history of our country. We are getting very close to that deal,” the president had told his supporters on Saturday in North Carolina, the Financial Times reported.

ByteDance, in a Chinese social media post on Sunday, said it was the first time it was hearing of such a fund, according to Reuters.

“The company has been committed to investing in the education field, and plans to work with partners and global shareholders to launch online classroom projects based on AI and video technology for students around the world,” the TikTok parent said

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Oracle Corporation (NASDAQ:ORCL), Wal-Mart Stores, Inc. (NYSE:WMT) – Trump Said TikTok Deal Would Create $5B Patriotic Education Fund. ByteDance Says It Has No Clue

President Donald Trump suggested Saturday that the TikTok deal he gave his “blessing” to involved a $5 billion education fund for the United States, but ByteDance claims it didn’t hear of this until media reports emerged.

What Happened: “They are going to pay $5bn into a fund for education so we can educate people as to the real history of our country. We are getting very close to that deal,” the president had told his supporters on Saturday in North Carolina, the Financial Times reported.

ByteDance, in a Chinese social media post on Sunday, said it was the first time it was hearing of such a fund, according to Reuters.

“The company has been committed to investing in the education field, and plans to work with partners and global shareholders to launch online classroom projects based on AI and video technology for students around the world,” the TikTok parent said

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ByteDance unaware of $5B education fund in TikTok deal

ByteDance, the owner of video app TikTok, said Sunday it had heard for the first time that it was setting up a $5 billion education fund in the U.S., Reuters reported. 

“The company has been committed to investing in the education field, and plans to work with partners and global shareholders to launch online classroom projects based on AI and video technology for students around the world,” ByteDance said on its official account on Toutiao, according to the newswire. 

President TrumpDonald John TrumpUS reimposes UN sanctions on Iran amid increasing tensions Jeff Flake: Republicans ‘should hold the same position’ on SCOTUS vacancy as 2016 Trump supporters chant ‘Fill that seat’ at North Carolina rally MORE said Saturday that he approved a proposal from TikTok, Oracle and Walmart that would stop the video app from being shut down. The president said as part of the deal, TikTok would “be making

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ByteDance says not aware of $5 bln education fund in TikTok deal

Bloomberg

Perelman Selling Almost Everything as Pandemic Roils His Empire

(Bloomberg) — Bit by bit, billionaire Ronald O. Perelman is parting with his treasures.His Gulfstream 650 is on the market. So is his 257-foot yacht. Movers hauled crates of art from his Upper East Side townhouse after he struck a deal with Sotheby’s to sell hundreds of millions of dollars of works.He’s unloaded his stake in Humvee-maker AM General, sold a flavorings company that he’d owned for decades and hired banks to find buyers for stock he holds in other companies.What in the world is going on with Ron Perelman? His exploits on and off Wall Street have been tabloid fare in New York since the go-go 1980s. But now, at an age when most fellow billionaires are kicking back, Perelman, 77, is facing a range of financial challenges, most of all at Revlon Inc., his cosmetics giant.Once touted as

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