U.S. investors seek to acquire TikTok's operations

U.S. discussions about the future of TikTok are focused on a deal where major non-Chinese investors in its parent company, ByteDance, could buy the app's U.S. operations. This plan aims to lessen Chinese ownership of TikTok to below 20%, which is required by U.S. law to avoid a ban. Jeff Yass' Susquehanna International Group and Bill Ford's General Atlantic are leading these talks, with private equity firm KKR also involved. The app's fate has been uncertain due to a law enacted in January, which mandates ByteDance either sell TikTok or face a ban over national security concerns. Critics of the ban argue that it infringes on Americans’ free speech rights. TikTok claims its U.S. operations are mostly independent, with data stored in the U.S. and managed by Oracle to ensure compliance. The proposed deal would keep U.S. user data with Oracle and assure that Chinese access to this data is restricted. Discussions have included other investors, such as investment firm Coatue, though they have not commented on the talks. President Trump has delayed enforcement of the law to provide time for a possible agreement. He previously indicated support for controlling the app, which he believes contributed to his election success in 2024. Along with Trump’s administration, other groups have expressed interest in acquiring TikTok, including one led by billionaire Frank McCourt and another involving YouTube star Mr. Beast. The deal would allow ByteDance to retain a stake while giving Oracle control over its data and updates.