TikTok faces US ownership deadline

A deal to transfer TikTok's U.S. operations under the control of domestic investors has to be finalized by December 16, marking the deadline set for ByteDance and its international partners to restructure the app's operations in order to continue serving its massive U.S. user base.

AI Brief

TikTok must finalise a US ownership deal or risk losing its biggest market.
Trump backs Oracle and US investors to manage app security and operations.
Data privacy concerns persist as China calls for a solution within its laws.

TikTok's Chinese parent company, ByteDance, and a group of international investors now have to finalize the deal separating the app's U.S. assets. Without an agreement, the app risks losing access to its largest market.

U.S. President Donald Trump initially pushed to ban TikTok, but used the platform during his 2024 election campaign to connect with younger voters. In September, he extended the deadline for a fourth time.

Trump said that American investors are taking over the platform and will run it with high-level expertise. He noted that tech giant Oracle and its CTO and executive chair Larry Ellison are expected to play a major role in managing the app's security and safety.

Other reported investors include U.S. private equity firm Silver Lake and MGX, a state-backed fund from Abu Dhabi.

The U.S. government has expressed long-standing concerns over user data security, while TikTok has maintained that it protects user privacy.

China has said it supports a solution that satisfies both parties and complies with Chinese law.