TikTok's New U.S. Ownership: A Shift in Control
TikTok will now be predominantly owned by U.S. entities, following an executive order from President Trump. The arrangement mandates strict oversight on software, algorithms, and data to ensure national security. ByteDance will hold a minor share, while a new board will manage the joint venture.
- Country:
- United States
President Donald Trump has signed an executive order ensuring that TikTok will be primarily owned and controlled by American entities. This marks a significant shift in the app's ownership structure, aiming to address national security concerns.
The agreement requires rigorous oversight of TikTok's software updates, algorithms, and data flow management, as outlined in the order released by the White House. This stringent monitoring aims to protect user data and enhance security measures.
Under this new arrangement, ByteDance and its affiliates will retain less than a 20% stake in the joint venture. A newly formed board of directors will oversee operations to safeguard American data and security interests, ensuring compliance with established rules.
(With inputs from agencies.)
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