That’s the consensus from people inside the US investment group as they put the finishing touches on a new company that President Trump says satisfies a law that bans the app domestically unless it removes all vestiges of control by its Chinese parent, Bytedance.

The law was meant to prevent the Chinese government from using the short-video app for spycraft. President Trump, once a TikTok critic, did a remarkable about-face after he came to believe pro-MAGA videos helped him win over a major chunk of TikTok’s user base, which is dominated by people under the age of 25.

After President Trump saved TikTok from being banned, investors shouldn’t expect to cash in on a lucrative initial public offering anytime soon, On The Money has learned. Jack Forbes / NY Post Design

The problem is that while Trump says TikTok’s new iteration in the US is legal, it might not be later on depending on who occupies the White House. Under the bipartisan legislation approved by the Supreme Court, it’s the president that has final say over whether the deal’s current structure passes legal muster and is free of Chinese “control.”

In a few years, for instance, a Trump-hating Democratic president, say Gavin Newsom or JB Pritzker, might want to stick it to the investors who helped Trump by ruling that the law was purposely circumvented because of the way Bytedance is still involved.

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That would lead to massive liabilities for all investors including average Joes who bought shares in an IPO: they could be on the hook for billions of dollars in damages given the way the ban law is written.

Informing small investors of those thorny – and possibly expensive details in IPO documents – would also lead to the mother of all disclosures and expose the weak underpinnings of the current deal’s structure, On The Money has learned.

The problem is that while Trump says TikTok’s new iteration in the US is legal, it might not be later on depending on who occupies the White House. Getty Images

“The disclosure of the liability would be enough to cast doubt on how the TikTok deal came about,” said one investor involved in the creation of the new company. “That’s why no one sees it happening.”

IPOs, of course, are a rite of passage for most normal private companies with substantial private equity or venture capital investments that want to cash in. TikTok has received financing from the likes of private equity powerhouses KKR, Susquehanna International Group, General Atlantic and even tech giant Oracle.

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But even company insiders concede that TikTok’s new iteration – spinning off the US portion of its global operations into a new company – is anything but normal. Trump says the deal is legal, but the Chinese maintain a significant ownership stake in the US operations. They are also leasing to the Americans their all-important algorithm, which is both the addictive secret sauce of the platform, but also the alleged means of China’s spying capabilities.

Yes, tech giant Oracle will be able to rewrite some of the algo’s code to try and remove the spyware, but questions remain on how much anyone can clean this software, which means a president other than Trump could still deem the new structure illegal.

The post Here’s why investors shouldn’t hold their breath for a lucrative TikTok IPO appeared first on Our Story Insight.

The 19-year-old New York University student could have picked up a cool $40 million — $25 million after taxes — from the sale of digital assets by World Liberty Financial, the Trump family firm launched nine months ago after Barron persuaded his dad about the benefits of crypto, Forbes reported.

“Barron knows so much about this,” commander-in-chief said during an interview in September after the launch. “Barron’s a young guy, but he knows it — he talks about his wallet. He’s got four wallets or something, and I’m saying, ‘What is a wallet?’”

Barron Trump, seen here at his father’s second inauguration, is listed as a “co-founder” on World Liberty Financial’s website. AFP via Getty Images

World Liberty has been a financial bonanza for the family. In March, World Liberty announced that it had sold $550 million worth of tokens.

An Office of Government Ethics filing released by President Trump last week declared he had made $57 million from token sales.

It also said that the real estate mogul held a 75% stake in his umbrella company, DT Marks Defi LLC, with unnamed “third parties” holding the other 25%.

Barron Trump is listed as a “co-founder” of World Liberty Financial alongside the president, as well as Eric and Donald Trump Jr, the president’s two eldest sons.

Forbes, which provided no direct evidence for its claims of Barron Trump’s massive digital windfall, suggested that he owned a 7.5% stake in the Delaware-based umbrella firm.

The stake would mirror what the NYU freshman holds in the Trump Organization’s Washington, DC hotel, Forbes said.

The Post has approached a Trump Organization spokesperson for comment.

Trump once derided digital assets such as Bitcoin as “a scam” but he has since U-turned and embraced cryptocurrencies. REUTERS

Barron Trump’s name does not appear in the company’s solitary SEC filing from October 30 last year.

Also listed as business partners in the venture are Middle East envoy Steve Witkoff and his son, Zachary.

An analysis by Bloomberg, the financial news outlet, estimates the president’s net worth has doubled since the start of his 2024 campaign, standing at just over $5.4 billion

The post Barron Trump may have made millions from family’s lucrative crypto firm: report appeared first on Our Story Insight.