The CEO of ByteDance, the parent company of TikTok, announced the sale of nearly 80% of the company’s U.S. operations. Under this deal, ownership of TikTok in the United States will be transferred to TikTok USDS Joint Venture LLC. The sale is expected to be finalized on January 26.
Ownership breakdown:
MGX 15%
A government-owned Emirati investment company established by the Abu Dhabi government as a fund focused on technology and artificial intelligence investments.
Its chairman is Sheikh Tahnoon bin Zayed Al Nahyan, a member of the Abu Dhabi ruling family and the UAE’s National Security Adviser.
Oracle 15%
An American technology company founded by Larry Ellison.
Silver Lake 15%
A U.S. private equity firm owned by its managing partners. Larry Ellison was among the early backers of the firm. Silver Lake has investments in the UAE artificial intelligence sector and also holds investments in Israel.
Affiliates of ByteDance investors 30.1%
Held by investment firms linked to existing ByteDance investors.
ByteDance 19.9%
The parent company of TikTok retained a 19.9 percent stake, keeping its ownership below the U.S. control threshold.
