Trump's TikTok US deal finalized: Here's who owns what
What's the story
President Donald Trump has confirmed that a deal to sell TikTok's US operations is complete, with approval from China's President Xi Jinping. Trump signed an executive order stating the deal meets US law requirements, giving a 120-day period to finalize the details. A group of investors will acquire TikTok US, creating a new company valued at $14 billion. The investor list includes some tech giants as well as the Abu Dhabi royal family.
Deal approval
ByteDance, TikTok's Chinese parent, will retain a 19.9% stake
MGX, a fund led by Sheikh Tahnoon bin Zayed Al Nahyan of Abu Dhabi, will acquire a 15% stake in TikTok US and secure a board seat when the company is spun out. Along with Larry Ellison's Oracle and private equity firm Silver Lake, MGX will collectively hold about 45% of TikTok US. Overall, American investors—including Michael Dell and Rupert Murdoch's Fox—are expected to control just over 65%. ByteDance, TikTok's Chinese parent, will retain a 19.9% stake.
Data protection
Deal values TikTok US at $14 billion
US Vice President JD Vance noted that there was some resistance from the Chinese side but the main goal was to keep TikTok operational while ensuring protection of Americans's data privacy as required by law. He added, "This deal really does mean that Americans can use TikTok, but actually use it with more confidence than in the past." The valuation of $14 billion for TikTok US is much lower than ByteDance's overall estimated valuation of about $330 billion.