Trump Approves TikTok Deal Separating U.S. Operations From China HQ; Oracle Among Backers Of New Joint Venture

Core Points - President Trump signed an executive order allowing ByteDance to divest TikTok's U.S. operations, complying with a 2024 law [1][6] - A consortium led by Oracle chairman Larry Ellison and Dell Technologies CEO Michael Dell is set to take control of TikTok's U.S. operations through a joint venture [1] - ByteDance will retain a 19.9% stake in the joint venture, while its current investors will hold 35% [2] Data Management and Structure - Oracle will manage TikTok's data, leveraging its existing cloud deal with ByteDance [3] - The new joint venture will have a board consisting of seven members, with six being American [3] - The consortium structure ensures equal shares among members, preventing any single entity from merging TikTok with other media assets [5] Legislative Context - Last year, Congress passed a law mandating ByteDance to divest TikTok in the U.S. or face a ban, which was upheld by the Supreme Court [6] - Trump's executive order has extended the deadline for this divestment as the new business arrangement is finalized [6]