Breaking: Majority American Ownership Agreement for TikTok Approved, Oracle, Andreessen Horowitz, and Silver Lake Management to Invest
The White House Press Secretary, Karoline Leavitt, recently appeared on Fox News, disclosing that a preliminary agreement has been reached concerning TikTok’s U.S. operations. This arrangement, yet to be formalized, would result in a majority American ownership of the popular short-form video app.
Leavitt revealed that Americans will occupy six out of seven board seats in the restructured TikTok, with the platform’s algorithm under American control, as reported by Bloomberg. She added that the finalization of this deal is imminent, expected to occur within the coming days.
According to Bloomberg, new investors slated to join TikTok include Oracle, Andreessen Horowitz, and private equity firm Silver Lake Management. The security and safety of the app are reportedly to be managed by Oracle. ByteDance, the current owner, is expected to retain less than 20% of the spun-off company.
President Trump has repeatedly delayed the enforcement date of a U.S. bill that prohibits TikTok’s operation if it isn’t sold to new owners. On Friday, he stated that China’s president Xi Jinping had given his approval for this deal.
