TikTok completes sale of US operations to non-Chinese investors

TikTok announces that it has finalized the deal to sell its operations in the United States to non-Chinese investors, effectively opening a new chapter for the popular app that Donald Trump had pledged to save on the first day of his presidency.

A statement explained that TikTok US Joint Venture has been created and is majority-controlled by American companies, with Silver Lake, Oracle, and Mgx each holding 15%. The separation of the U.S. operations ends a years-long dispute with the creation of a joint venture in which the Chinese company Bytedance retains a 19.9% stake, CE Report quotes ANSA.

The U.S. Congress in 2024 had approved a law that would have banned TikTok in the United States if Bytedance had not sold its U.S. operations, in order to address widespread concerns over potential misuse of U.S. user data and the app being used to promote Beijing’s narrative. Initially, the app would have been banned in January 2025 if no sale agreement had been reached. However, Trump saved the app by repeatedly extending the deadline to allow more time for an agreement. Although he was initially in favor of banning TikTok during his first term, the U.S. president later changed his mind after the app helped him win the 2024 election. Last September, the White House and China reached a preliminary agreement to sell TikTok’s U.S. operations to a joint venture, which has now come into effect.