ByteDance, the Chinese technology corporation, has completed the deal to transfer a stake in its American division to a group of investors from the United States.
According to Bloomberg, among the new shareholders are companies such as Oracle, Silver Lake, and MGX, which will receive 50% of the shares of American TikTok. The remaining shares will be distributed as follows: 30.1% will remain with the current investors of ByteDance, while 19.9% will be controlled by the company itself.
According to the information, the involvement of American investors will ensure more thorough content moderation and protection of user data in the U.S. The new board of directors will consist of seven members, most of whom are U.S. citizens. ByteDance will retain control over the advertising part of TikTok and the TikTok Shop e-commerce division.
On the social network Truth Social, Donald Trump expressed the opinion that TikTok is now in the hands of "a group of outstanding American patriots and investors." He also thanked Chinese President Xi Jinping for agreeing to the deal, noting that he could have acted differently but chose this path, which deserves recognition.
Currently, TikTok has around 200 million users in the U.S. In 2024, the U.S. Congress passed a bill that could lead to the platform being blocked if ByteDance does not sell TikTok. Such measures were prompted by concerns that user data could be used by the Chinese government or that the app could promote narratives favorable to Beijing. The deal was initially planned to be completed by January 2025; however, Donald Trump has repeatedly extended the deadlines for its conclusion.
