By Sam Levin
Publication Date: 2026-01-23 02:36:00
TikTok announced on Thursday that it had reached a deal to form a new US company, allowing it to circumvent a ban and End a long legal battle.
The act Dealt with ByteDance, TikTok’s Chinese owner is creating a majority American-owned company with investors including Larry Ellison’s Oracle, private equity group Silver Lake and Abu Dhabi’s MGX own 80.1% of the new company, while ByteDance will own 19.9%.
The announcement is coming five years after Donald Trump first threatened to ban the popular platform in the USA in his first term in office.
The future of TikTok in the US was unclear, a saga that began afterward congress voted overwhelmingly to pass a law banning the social media app in 2024 unless it finds a U.S. buyer. The Supreme Court upheld the law in January 2025, but on the first day of Trump’s inauguration he signed an executive order postponing the ban.
Since then, he has repeatedly delayed enforcement while the U.S., the company and potential American partners negotiated…
