Technology12/19/2025•Engadget
We have more details on the TikTok deal, including some ownership statistics
TikTok has signed a deal to spin off its American business, keeping the popular social media app available in the US. The deal involves three companies - Oracle, Silver Lake, and MGX - each controlling around 15% of the newly-formed entity. ByteDance, TikTok's parent company, will retain a direct ownership stake of around 20%. The majority of the seven-member board of directors will be Americans, and US data will be stored under a system operated by Oracle, a company with close ties to former President Trump. The deal is expected to close on January 22, 2023, after several extensions to the original executive order requiring the sale of the app to prevent a ban.
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