Breaking: Majority American Ownership for TikTok Agreed Upon, Deal Pending Signature – Includes Oracle, Andreessen Horowitz, and Silver Lake Management as New Investors
In an appearance on Fox News, White House Press Secretary Karoline Leavitt announced that an agreement has been reached – though not yet formally signed – regarding TikTok’s U.S. operations. The proposed restructuring would see a majority of American ownership take control.
According to reports by Bloomberg, this new structure would grant Americans six out of seven seats on the reconstituted TikTok board. Moreover, it is said that the platform’s algorithm will be managed domestically.
Leavitt stated, “All the pertinent details have been agreed upon; now we await the signing of this deal, which I expect to occur in the near future.”
Bloomberg also disclosed that potential new investors in TikTok may include Oracle, Andreessen Horowitz, and private equity firm Silver Lake Management. Oracle is expected to assume responsibility for both the app’s security and safety measures. ByteDance, the current owner, would reportedly own less than 20% of the spun-off company.
President Donald Trump has continued to extend the deadline of a U.S. bill that prohibits TikTok’s operations within the country unless it is sold to new owners. On Friday, he stated that China’s President Xi Jinping had given his approval to the deal.
