US EditionOracle, Silver Lake, MGX to be main investors in TikTok U.S. with 45% ownership, CNBC reports
The deal transfers TikTok’s U.S. operations to American investors including Oracle, Silver Lake, and MGX, covering 170 million users and addressing national security concerns.
- Thursday's executive order from President Donald Trump recognizes a sale framework for TikTok U.S., with officials extending the enforcement pause until December 16, 2025.
- Driven by a 2024 law signed by President Joe Biden, ByteDance must divest U.S. TikTok assets or face a nationwide ban amid bipartisan security concerns.
- According to CNBC and Reuters, Oracle, Silver Lake, and MGX will control roughly 45% of TikTok U.S., with ByteDance holding less than 20%, and a seven-member board featuring six American appointees.
- The move affects about 170 million U.S. users, and Oracle will oversee U.S. data and algorithm security to address national security concerns.
- Facing CFIUS review, the deal's structure may still evolve as officials extended the pause until December 17, 2025, and leaders plan talks at the APEC Summit next month.
70 Articles
70 Articles
Donald Trump signed on Thursday a decree defining the contours of the divestiture of TikTok's U.S. business to several of its rich supporters, while the Chinese platform's parent company will retain only a minority stake.
Donald Trump signed on Thursday a decree defining the contours of the divestiture of TikTok's American activities to several of his rich supporters.
The American president signed a decree on Thursday, ensuring that the American version of the famous social network would soon be managed by "very sophisticated" investors, like Larry Ellison, head of Oracle, or the media magnate Rupert Murdoch.
With a regulation, US President Trump paves the way for a TikTok deal in the US that combines security concerns and user interests.
Newcomers to ByteDance's capital, TikTok's parent company, are all Donald Trump's allies. But the US president insisted that the application would not be subject to any partisan orientation.
Coverage Details
Bias Distribution
- 46% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
