Following the sale of TikTok, a colossal $10 billion payment to the US government is causing controversy.

Even after its completion last January, with Xavier Niel among the shareholders, the sale of TikTok's American operations continues to be controversial in the United States. While the deal was primarily intended to address Washington's national security concerns and ByteDance's ties to China, another aspect of the agreement is now attracting attention. Indeed, the Trump administration is expected to receive up to $10 billion as part of the transaction. An extraordinary sum, which further blurs the line between political arbitration and commercial logic…

A sum deemed disproportionate

According to the New York Times, this sum would correspond to a form of “transaction fee” demanded by the federal government for having facilitated the creation of an American version of TikTok, controlled by local investors. Last January, an initial tranche of $2.5 billion was reportedly already paid to the US Treasury upon finalization of the agreement. This amount raises even more questions as it represents nearly 70% of the estimated valuation of TikTok US, valued at around $14 billion according to statements circulating about the matter. At this level, we are no longer talking about a simple administrative cost or a commission comparable to that of an investment bank, but rather a levy of unprecedented magnitude. And beyond the figure itself, it is above all the precedent set by the Trump administration that is striking. Since the beginning of his second term, the White House has already distinguished itself through more direct involvement in several industrial and technological deals, whether it be Intel, chip exports, or issues related to raw materials…

Investors ever closer to power?

The profile of the investors involved is another subject that raises questions in analysis, as some of the investors are presented as close to Donald Trump or his inner circle. Oracle, quickly identified as a “savior” of TikTok, for example, remains associated with Larry Ellison, a well-known supporter of the president.

However, it should be noted that at this stage, no illegality has been established. Nevertheless, this operation illustrates a broader trend showing that in the United States, the executive branch is no longer content with simply approving or overseeing certain strategic transactions, but also seeks to capture a portion of their value. And in the TikTok case, which was thought to be over after several years of tension, this ultimately transforms a sale under geopolitical pressure into a long, highly political financial affair…