Oracle, Silver Lake, and Abu Dhabi’s MGX will emerge as the lead investors in TikTok’s American business under a deal expected to reshape ownership of the popular social media platform, according to people familiar with the negotiations.
The three firms will jointly hold about 45% of TikTok USA. ByteDance, the Beijing-based parent company, will retain a 19.9% interest, while the remaining 35% will be divided between existing ByteDance backers and new stakeholders.
President Donald Trump is set to sign an executive order on Thursday endorsing the agreement, which ensures that TikTok remains operational in the United States. The move follows months of uncertainty as ByteDance faced a federal mandate to divest its U.S. operations or risk a nationwide ban. Lawmakers from both parties had raised alarms about the app’s algorithm and its potential ties to Chinese authorities.
Last week, Trump issued an order delaying the divestiture deadline until December 16, giving negotiators additional time to finalize the structure.
Sources said ByteDance’s American investors, including General Atlantic, Susquehanna, and Sequoia, are expected to contribute equity to the new company. The arrangement does not give the federal government an ownership share or special voting rights in the U.S. entity, CNBC reported earlier this week. Instead, a board composed mostly of American members will oversee operations, and Oracle will take charge of data security and compliance.
Trump has frequently highlighted TikTok’s importance, noting its role in mobilizing younger audiences during his election campaign. He has also pointed to billionaire donor Jeff Yass, a significant ByteDance investor through Susquehanna, as a key figure in the deal. Yass also holds a stake in Trump’s own media company, Truth Social.
In addition, Trump recently suggested that media executives Rupert Murdoch and Lachlan Murdoch, along with Oracle founder Larry Ellison and Dell Technologies CEO Michael Dell, could play a role in shaping the future of TikTok USA.
The restructured ownership aims to ease national security concerns while keeping the platform accessible to its more than 100 million American users. The agreement also underscores the high stakes of balancing global tech investment with Washington’s demand for stronger oversight of foreign-linked digital platforms.
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