Majority US-owned venture includes Larry Ellison’s Oracle, private-equity group Silver Lake and Abu Dhabi’s MGX
TikTok announced on Thursday that it had closed a deal to establish a new US entity, allowing it to sidestep a ban and ending a long legal battle.
The deal finalized by ByteDance, TikTok’s Chinese owner, sets up a majority American-owned venture, with investors including Larry Ellison’s Oracle, the private-equity group Silver Lake and Abu Dhabi’s MGX owning more than 80% of the new entity.
The announcement comes five years after Donald Trump first threatened to ban the popular platform in the US during his first term.
TikTok’s future in the US had been unclear, a saga that began after Congress overwhelmingly voted to pass a law banning the social media app in 2024 unless it found a US buyer. The supreme court upheld the law in January 2025, but on Trump’s first day in office, he signed an executive order postponing the ban. He has since repeatedly continued to delay its enforcement while the US, the company and potential American partners were negotiating over an agreement.
