A consortium of companies and individuals, largely comprising known allies of President Donald Trump, has acquired a controlling interest in TikTok's U.S. operations. This strategic move follows a presidential executive order mandating the divestiture of the app's American assets from its Chinese parent company, ByteDance, citing national security concerns.
Leading the charge is Oracle, headed by co-founder Larry Ellison, a prominent Trump supporter. Other key players include private equity firm Silver Lake and investment firm MGX. Additionally, Rupert Murdoch, a powerful media figure, and Michael Dell, CEO of Dell Technologies, were reportedly involved. This ownership shift ensures an American-led entity now controls the popular video-sharing platform's U.S. data and algorithm.