TL;DR
- TikTok is now part owned by three major US investors: Oracle, Silver Lake, and MGX
- Bytedance retains 19.9% ownership
- US owners are tightening surveillance
Read on to find out what’s changing for users and what this means for the future of TikTok/social media.
Who owns TikTok?
In a bid to dodge a US ban, TikTok’s parent company ByteDance has cut a deal with three non-Chinese investors: Oracle, private equity firm Silver Lake, and Abu Dhabi-based investment company MGX, who each hold a 15% stake (TechCrunch).
Together, they now control the majority of a new entity dubbed TikTok USDS Joint Venture LLC (catchy, we know). ByteDance hangs onto just 19.9% ownership, while the rest is divided up among smaller American investors (TikTok).
Some say the deal gives the appearance of US ownership, but that it’s more of a strategic face lift than a fundamental power shift, while others are less hopeful.
In a post on Truth Social, Trump wrote:
“I am so happy to have helped in saving TikTok! It will now be owned by a group of Great American Patriots and Investors…”
Trump might be happy, but TikTok users? Not so much. With one of the most culturally influential platforms in the world now in the hands of three Trump-supporting tech billionaires, for a platform that shaped a generation, it’s a pivotal moment. While a lot could stay the same, the power behind the scroll has changed. And that could mean the end of TikTok as we know it.
