A consortium of three investors, including Oracle and private-equity company Silver Lake, will acquire around 50% of TikTok U.S., according to a source familiar with the matter.<\/p>\n
A group of existing owners in TikTok’s Chinese parent, ByteDance, will own approximately 30% of the company, according to the source. ByteDance’s current investors include Susquehanna International Group, General Atlantic, and KKR.<\/p>\n
U.S. President Donald Trump is likely to sign a TikTok deal later on Thursday that will divest the app’s U.S. operations from ByteDance, putting an end to months of speculation about its future in the country.<\/p>\n
According to a senior White House official, the agreement on TikTok’s U.S. operations includes ByteDance appointing one of seven board members for the new business, with Americans holding the remaining six seats.<\/p>\n
ByteDance would possess less than 20% of TikTok U.S. in order to comply with a 2024 rule that required it to shut down by January 2025 if its U.S. assets were not sold by its China-based owner ByteDance.<\/p>\n
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