Oracle, Silver Lake & Abu Dhabi’s MGX will be main investors in TikTok’s U.S. business, sources told CNBC’s David Faber on Thursday.
Those three entities will control roughly 45% of TikTok USA, Faber reported. ByteDance, TikTok’s Chinese parent, will own 19.9%, with the remaining 35% in the hands of ByteDance investors.
President Donald Trump will sign an executive order on Thursday backing the proposed deal that will keep the social media app running in the U.S.
Backers of ByteDance, including General Atlantic, Susquehanna and Sequoia, are expected to contribute equity in the new TikTok USA, sources told Faber.
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