
The White House’s campaign to “save” TikTok may soon be over—with President Donald Trump’s billionaire pals expected to emerge victorious. The Chinese-owned social media giant has signed a deal to sell its U.S. unit to a joint venture controlled by American investors, according to an internal memo reviewed by Axios. Under the deal, tech titan Oracle, private equity firm Silver Lake, and Abu Dhabi-based MGX will collectively own 45 percent of TikTok’s U.S. entity through “TikTok USDS Joint Venture LLC.” ByteDance will retain almost 20 percent of TikTok, and nearly one-third will be held by affiliates of the Chinese firm’s existing investors. Oracle is owned by co-founder and Trump pal Larry Ellison; Silver Lake co-CEO and managing partner Egon Durban has ties to Trump son-in-law Jared Kushner; and MGX has backed the Trump family’s crypto empire. The joint venture will reportedly be in charge of U.S. data protection, algorithm security, content moderation, and software assurance. “A trusted security partner will be responsible for auditing and validating compliance with the agreed upon National Security Terms, and Oracle will be the trusted security partner upon completion of the transaction,” the memo states.




















