Oracle-led consortium to take 80% control of TikTok’s US operations: Report
The entity would have an American-dominated board, including one member appointed by the U.S. government.
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TikTok’s American operations are set to come under the control of a new investor consortium led by Oracle, Silver Lake and Andreessen Horowitz (a16z), according to a report by the Wall Street Journal on Tuesday. The development comes as Washington and Beijing move towards finalising a framework agreement on the video-sharing platform’s future in the United States.
Under the plan, a new company will be established to run TikTok in the U.S., with American investors holding around 80% of the stake and Chinese shareholders retaining the remainder. The entity would have an American-dominated board, including one member appointed by the U.S. government.
According to the Washington Post, existing TikTok users in the U.S. will be asked to migrate to a newly built app that the company has already developed and is testing. Reuters previously reported in July that TikTok was preparing such a standalone app, designed to operate on a separate algorithm and data system from the global version.
The WSJ added that Oracle would be responsible for handling TikTok’s U.S. user data at its facilities in Texas. While both the U.S. and China are still ironing out the details, the report noted that the terms of the deal may yet be adjusted.
Neither TikTok nor the consortium members — Oracle, Silver Lake and a16z — responded to Reuters’ requests for comment.
On Tuesday, U.S. President Donald Trump signed an executive order delaying enforcement of a 2024 law requiring TikTok’s Chinese parent, ByteDance, to divest its American operations. The deadline has now been pushed to 16 December. Earlier the same day, Trump also confirmed an agreement with China to keep TikTok running in the U.S.
