Summary
TikTok has finalized a deal to sell its U.S. business to American investors Oracle, Silver Lake, and MGX. This agreement will let TikTok continue operating in the U.S. while ensuring data protection and meeting national security standards. Half of the new TikTok U.S. joint venture will be owned by these investors, with the rest distributed among other stakeholders including the original Chinese owners, ByteDance.
Key Facts
- TikTok signed a deal to sell its U.S. unit to American investors: Oracle, Silver Lake, and MGX.
- The deal will close on January 22, ensuring TikTok continues to operate in the U.S.
- Oracle, Silver Lake, and MGX will own 15% each of the new joint venture.
- ByteDance will retain a 19.9% stake in the U.S. business.
- A new board of directors will be majority-American, focusing on protecting U.S. data and national security.
- U.S. user data will be stored in a system run by Oracle.
- The TikTok algorithm will be adjusted to ensure content is free from outside influences.
- President Trump signed executive orders to keep TikTok running while finalizing the deal.
