The Chinese social media giant TikTok has reached an agreement for its operations in the United States to come under the majority control of U.S. investors to comply with an executive order from President Donald Trump, signed in September, CBS reported on Thursday. The new structure establishes that Oracle Corporation and the private equity firm Silver Lake will each have a 15% stake in the U.S. joint venture, while TikTok's Chinese parent company, ByteDance, will retain less than a 20% stake, according to a document obtained by CBS. According to the document, MGX, an investment firm from the United Arab Emirates, will also hold a 15% stake, and the U.S. company will control the board of directors and have a majority in strategic decisions. The agreement emphasizes U.S. control over the recommendation algorithm and content moderation within the country, fulfilling the security and digital sovereignty goals promoted by Trump. Additionally, U.S. user data will be stored locally in a cloud managed by Oracle, reinforcing guarantees for the protection of sensitive information. TikTok CEO Shou Chew stated that there is still 'more work to be done' before the agreement's completion, scheduled for January 22, 2026, and highlighted that the restructuring will allow more than 170 million Americans to continue using the platform under majority local control. The deal is framed within Trump's executive order, which gave TikTok a 270-day deadline, expiring this December, to cut ties with ByteDance or face a ban in the U.S. The measure reflects the Republican's strategy to ensure that operations of critical foreign platforms in the U.S. come under U.S. supervision and ownership.
