The popular social media platform TikTok has finalized an ownership restructuring that brings together leaders from the technology sector to establish a majority American-owned entity. The announcement Thursday showcases how industry veterans are preserving the platform through strategic investment.
ByteDance, the Chinese parent company of TikTok, has agreed to a structure reducing its ownership to 19.9%, while American technology sector leaders assume controlling interest with 80.1%. Larry Ellison through Oracle represents decades of enterprise technology leadership, the Silver Lake team brings extensive technology investment experience, and the consortium includes Michael Dell’s firm, adding another technology industry pioneer. Together they create formidable American technology leadership.
This resolution addresses legislation enacted by Congress in 2024 through leadership from individuals and firms with deep technology sector expertise. Oracle’s Ellison built one of the world’s largest enterprise software companies, the Silver Lake partners have invested in and grown numerous technology businesses, and Dell founded and led a global technology corporation. This collective expertise ensures the American ownership group understands platform operations and can provide meaningful oversight rather than passive investment.
Leadership of the American entity will be entrusted to Adam Presser as CEO, supported by ownership from technology sector veterans who understand the business. The company will be overseen by a seven-member board with American majority and cybersecurity experts, with the technology-savvy ownership group ensuring qualified board composition. Shou Chew participates as a board member.
The new US entity implements comprehensive safeguards with technology sector expertise informing effective security: data protection leveraging industry best practices, algorithm security drawing on decades of software security knowledge, enhanced moderation using proven approaches, and software integrity applying enterprise-grade verification. The recommendation algorithm undergoes retraining with technical rigor. Both governments approved this technology sector leadership approach.